College seniors, it’s time to get cracking on your resumes. The job market for the class of 2016-17 is strong, according to Michigan State University’s Recruiting Trends survey, with hiring projected to increase 23% over last year.
“The college labor market has enjoyed six years of steady improvement since the depths of the recession between 2009 and 2010,” Phil Gardner, survey author and director of MSU’s Collegiate Employment Research Institute, said in a statement. “Our report shows that the hiring of college graduates has been moving at warp speed for the past two years. And signs in the early fall of 2016 point again to another explosive year of hiring.”
Researchers asked 4,350 employers in every state about their hiring plans for this year. They found that employers in a wide range of industries are expecting to expand their payrolls this year. Increased turnover and strong business growth are driving increased hiring, as are a handful of companies which plan to hire a large number of grads. Overall, the companies surveyed planned to hire 107,200 new graduates this year.
While the overall outlook for hiring is good, the future looks especially bright for graduates in fields like hospitality, business, and finance, which all expect to boost hiring by 20% or more. Construction is also on the upswing, with businesses expected to increase their hiring of graduates by 54% this year. Hiring is also expected to increase in the government and non-profit sectors.
People looking for work in certain manufacturing subsectors may want to start panicking now, though. Hiring looks to be down 37% compared to last year in chemicals and pharmaceuticals manufacturing and 20% in food processing. Hiring in architectural design will be down 29%.
There’s good news on the salary front, too. Starting salaries are expected to be up an average 4%, the survey found. Nearly half of employers also plan to raise starting salary offers.
“We have not seen this level of employers raising salary offers since 2006-07,” Gardner said. “It’s the first sign that salaries are beginning to rise at a fast pace.”
Here are 10 industries that expect to significantly increase their hiring of new grads with bachelor’s degrees this year compared to last.