As job growth remains modest at best, college graduates have an improved outlook on the overall market. In fact, college advisors are joining employment analysts in predicting that this year will be the most favorable for graduates since pre-recession times, with software development work leading the field in terms of number of jobs added.
The unemployment rate notched a minor tick down to 7.5 percent in April with 165,000 non-farm jobs added to U.S. payrolls, leading economists to breathe a sigh of relief. Though the improvement in the market as a whole is mildly encouraging, the unemployment rate for college graduates is about half of what the rest of the population is facing. Anyone not planning to start a business is better off completing college, according to statistics.
Software developers topped the list of jobs added since 2010, with work as an accountant and market research analyst following this field. Employers are looking beyond tech majors for IT work, according to career services staff members. Anyone with the ability to manage or train employees (or audit the books) can take advantage of the openings in tech work. Other tech industries rounded out the top 10 list of jobs for 2013′s graduates published by Forbes…
Computer systems analysts, network system administrators and information security analysts came in fourth, sixth and eighth, respectively, in most jobs added since 2010. The latest job report added another 114,000 jobs to the figures it released on February and March, making the results considerably better than originally thought.
Nearly all the added jobs were in the private sector, as government jobs declined and retail work perked up. As Warren Buffett noted at the Berkshire Hathaway shareholder meeting, we are far from the worst hour for the economy, though concerns about government cuts and limited growth remain.
Meanwhile, wage increases have been negligible, failing to outpace inflation. The percentage of wage earnings was at its lowest share of the G.D.P. ever in 2012, continuing a downward trend. Yet a college degree is the one thing that remains sought by employers everywhere. If graduates are willing to travel, prospects increase for this group. Their unemployment rate is below 4 percent, compared to non-college graduates, who remain unemployed above 11 percent.