Job Growth Might Be Slowing Overall — But It’s Surging For New College Grads

Graduates give praise to during commencement ceremonies at Harvard University.
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The walk of job creation slowed substantially finally month, the Labor Department said Friday.

Employers added 160,000 employees in April, downshifting from the monthly medial sum of 192,000 workers so hostile this year. That was a feeling of thwarted expectation for many job seekers.

But the abiding habitation does have one group enjoying lots of opportunities: newly minted guild graduates. In fact, economists say this ability be the best time to exist graduating in a decade.

While the overall unemployment degree held steady at 5 percent highest month, the Labor Department says the set a value on is only about half that as being college graduates.

And the freshest grads — the ones getting diplomas this month — are individually attractive to employers, according to Andrea Koncz, scrutiny director for the National Association of Colleges and Employers.

Companies are seeking the young and educated to re-establish baby boomers, Koncz said. “They are continuing to increase hiring knowing that there are retirements, there are open positions to fill, and … it’s material to keep new college graduates in their ability pipelines,” she said.

Nearly 3 uncovered of 4 employers surveyed by CareerBuilder, a piece of work search engine, say they plan to hire 2016 graduates, the highest of the same rank of hiring in nearly a decade.

This year’s graduating seniors are stepping into a without details healthy marketplace: Job openings have been running at not remotely record highs, with roughly 5.4 million vacancies, according to the Bureau of Labor Statistics.

That’s same different from a few years since when the Great Recession was yet depressing hiring and wages. The National Bureau of Economic Research plant that “graduating in a recession leads to huge initial earnings losses” of about 9 percent.

“For young workers even-handed entering the labor force, being fortunate enough to graduate into a tight labor market like ours today can have a cyclopean impact on wages and career prospects,” related Andrew Chamberlain, chief economist for Glassdoor, one online job and recruiting marketplace.

Mohammed Ahmad, who is finishing up his MBA at Stony Brook University in New York, told NPR he knows he is happy to be graduating now. His bachelor’s degree is in pharmacology, so his resume matches up closely with his older sister’s. She also earned an MBA to layer attached top of a medicine background.

But there’s the same big difference. He is graduating it being so that, and she graduated right into the mouth of the recession.

So when Ahmad sat prostrate to send out his resumes, “in the reach like about 20 minutes to a moiety hour, I got a phone denominate … and I scheduled every interview.”

When his sister sent completely resumes, she had a very variant experience. “She would constantly subsist applying, wouldn’t be able to have an account back. And if she did hear back it would be for positions she wasn’t interested in,” he said.

Employment experts express the most in-demand jobs today intwine technology, business and engineering.

Friday’s jobs statement underscored such trends. Professional and business services added 65,000 jobs in April. By opposition, jobs in mining and logging savage by 8,000, piling more losses up~ the body top of an already-long loss streak. The leisure-and-hospitality sector, that also offers jobs for noncollege graduates, added solely 22,000 workers in April. That’s the smallest increase in a year.

Even though overall hiring slowed, raises showed impetus. Average hourly earnings for private-sector workers rose through 8 cents, to $25.53, in April. Compared through a year earlier, wages are up 2.5 percent.

Nariman Behravesh, grand economist for IHS Global Insight, afore~ in his analysis that those pay gains were the fulgent spot. With more money in paychecks and smaller quantity pain at gas pumps, most Americans are in more excellent financial shape.

“The April weakness in payroll jobs is ephemeral,” he said. “In the approach months, jobs growth will rebound to 200,000 a month, or maybe more. Most indicators of the labor emporium continue to point to ongoing strength.”

WSHU reporter Charles Lane contributed to this record.

Copyright 2016 NPR. To see greater degree, visit http://www.npr.org/.

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