As millions of students are preparing for the graduation ceremonies many are still wondering about their future and what surprises it will bring. Well, one thing is sure that no one has a crystal ball to make this kind of predictions but new reports from CNBC provide some insights into what kind of ride the fresh graduations can expect from the job market in the US.
High salaries
This is the good news and probably the only one so let’s focus on this one first. According to the data provided by the National Association of Colleges and Employers (NACE), graduates can expect higher salaries. And this is not only for the graduates from technical fields but applies equally to other categories from business to humanities. So, yeas graduates can look forward to better offers. Also, the unemployment rates in the US are lowest since the last 17 years (another good news!).
Fewer opportunities
With better salaries and low unemployment, the hiring sky is not as clear as one may think. According to the employers at the NACE, they will higher 1.3 percent fewer graduate in contrast to last year hiring. However, this decline is not unilateral as a majority of cuts are being made by the insurance and retail sector as they aim to maintain the hiring numbers. But, rest of the industries are looking for fresh faces, minds, and talents and plan on increasing their hiring numbers. Opportunities may not be visible at first but the dawn is coming in the near future.
Student loan
The average outstanding debt on a college graduate is more than $34,100. So, yes they have every right to tensed and concern about their future. With large financial number outstanding in debt many graduates are worried that this will impact the time-line of everything in their lives from marriage to having children and buying homes. In fact, 11 percent of the graduates believe that they won’t be able to retire.
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Job Market In Us
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