Posted June 21, 2021 by Mark Perna
Episode Title: Today’s Job Market is a Catch-22
Today’s job market is a catch-22 for new college graduates and the companies that need to hire them. Find out why, coming up next on The Perna Syndicate.
Ep 226 show:
Hello—you are now in The Perna Syndicate! The latest job reports show that more and more employers are staffing up to take advantage of the recovering economy. For this year’s 4.4 million college graduates, that seems like great news.
But, there’s a catch.
Fewer and fewer of the estimated eight million unfilled jobs across the country are available for “entry-level” or “new grads.” In fact, the number of so-called entry-level jobs dropped 68% since last year. What’s more, the majority of these types of positions require at least three years of experience.
Why are companies demanding so much experience for entry-level jobs? Casey Welch, the CEO of Tallo, says that it’s because there are more applicants with college degrees than ever before. A bachelor’s degree used to set candidates apart, but not anymore.
So college graduates need experience to land a job, but companies only want candidates who already have experience. This is a catch-22 for both sides, and no one’s going to win in this scenario.
Fortunately, there’s a way to buck the trend and break free from this impossible situation. Both young people and hiring managers can take steps to escape the catch-22—and make real strides in the emerging job market.
This week, we’re going to talk about these strategies and the way that the screening and hiring process must change to benefit both companies and the young people they should be hiring. Stay tuned and we’ll see you back here tomorrow on The Perna Syndicate.