Business

College grads’ job outlook improving: report

CHICAGO — Prospects for entry-level job candidates are expected to improve along with the economy, as companies look to rebuild their “bench strength” after cutting millions of workers during the recession, employment and layoff consultant Challenger, Gray & Christmas Inc. said Wednesday in a report.

As the unemployment rate dropped to 8.2 percent last month, its lowest level since 2009, this year’s crop of 1.7 million college graduates should fare slightly better than last year, but competition should remain fierce, the firm said.

“The job market still has a long way to go before full recovery, but the good news is that young job seekers with four-year degrees are in growing demand,” Challenger CEO John A. Challenger said.

Graduates expected to find the most success are those with the flexibility to go wherever jobs are and those seeking positions in more sought-after occupations, including accounting and finance, engineering, computer science, sales and marketing, education, health care and social services.

Challenger said hiring has come in fits and starts, and last year was strong through early spring then faded in the summer and fall.

While the pace of hiring has been volatile throughout the recovery, every month since February 2010 has experienced positive job growth for a total of 4.1 million new jobs.

The consultancy said 20-to-24-year-olds were among the biggest benefactors during the 25 months of consecutive job gains. According to the Bureau of Labor Statistics, the number of employed 20-to-24-year-olds increased by 939,000 from March 2010 through last month.

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