Job openings near 15 year high, hirings remain stable
During September, job openings increased in comparison to the number of openings in previous years, which could be good news for upcoming graduates, according to The Wall Street Journal.
Using University services would help undergraduate students best take advantage of potential job openings, said William Jones, director of Operations and Strategic Initiatives at University Career Services (UCS).
“Services like CareerKnight can help students (plan out) their post-graduation career,” he said. “Definitely come in and schedule an appointment.”
The number of job openings over the last 15 years has increased overall, according to the Job Openings and Labor Turnover (JOLTS) report for September 2015 by the United States Department of Labor. The report found 5.5 million job openings with 5 million hires during the month.
This number of openings is the second-highest reported since 2000, according to the Journal. The number of hires has decreased by 0.1 million from August, meaning more jobs are opening than positions are being filled.
Fewer people left their positions than joined new ones as well, according to the JOLTS report. About 2.7 million people quit their job over the 30-day period, which is close to the average since August 2014 of people quitting.
Prior to that, the number of people who quit their positions was increasing, according to the Journal. A higher number indicates a better economy as people generally quit in order to join a better job.
“The quits rate can serve as a measure of workers’ willingness or ability to leave jobs,” according to the JOLTS report.
Before the Great Recession, the national average for people quitting their positions was greater than 2 percent, according to the Journal. Over the last year, it remained at 1.9 percent.
The total number of people who left their jobs during September is 4.8 million, which includes layoffs and firings as well as those who quit, according to the JOLTS report.
Overall roughly 60.9 million people were hired by employers over the last year, with only 58.2 million people leaving their positions, according to the report.
In other words, there were more people who were hired than those who lost their positions.
According to data from UCS for the Class of 2015, 79 percent of all students were either employed or in a graduate degree program within months of leaving the University. Of this group, 61 percent entered job positions with the remainder seeking their next degree.
This is lower than the national average, with 69.4 percent of college graduates in 2014 being employed within a few months of graduation, according to the National Center for Education Statistics (NCES).
Programs like "Road to Wall Street" helped a greater percentage of students earn employment, Jones said.
More than 80 percent of participants in the program were employed a month after graduation, according to UCS data.
Students who participated internship and co-op programs faired the best, with 97 percent of them having employment by June 2015.
This data was collected by sending post-graduation surveys to the Class of 2015, Jones said. About 44 percent of the students who graduated in May responded by the end of June.
“We had 36 percent of respondents say that a campus recruiting service contributed to their full-time employment status,” he said.
More students usually respond on the second survey, which is usually sent out six months after graduation, he said.
The JOLTS report is promising for students graduating, said Alex Huang, a School of Arts and Sciences senior. It would help if the report broke results down by field, even if they were more general ones like liberal arts and the sciences, he said.
“People always joke about how liberal arts majors don’t get better jobs but is that true?” he said. “With the recession I know most jobs (saw lowered) hiring (rates) but (that is) getting better.”
It does not help that many positions hire graduates even though the positions themselves do not need a degree to complete, he said.
More than 30 percent of positions being filled by degree-holders do not actually require a bachelor’s degree, according to U.S. News.