This year’s college graduates are entering one of the best job markets in years, according to a recent survey.
Employers say they plan to hire 10.7% more graduates from the class of 2019 than they did from the class of 2018, the best hiring outlook for new grads since 2011, according to the National Association of Colleges and Employers’ Job Outlook report, which surveys employers on their hiring intentions.
Though another recession may be on the horizon, employers feel confident in the job market for recent graduates. 16.8% of respondents in 2019 rated the job market as “excellent,” compared with 7.4% of respondents in 2018.
The fastest-growing regions, according to the survey, are New England, the Southwest and the Midwest.
Here’s a look into the survey results.
Fastest-growing industries, by percent change in prospective hires from 2018 to 2019
- Chemical manufacturing - 36.6%
- Computer and electronics manufacturing - 35.2%
- Oil and gas extraction - 31.7%
- Miscellaneous manufacturing - 25.8%
- Finance, insurance and real estate - 19.1%
Most in-demand majors
- Mechanical Engineering
Financial tips for new graduates
Just graduated college? Congratulations! Here are a few ways to get on the road to solid financial health now that you’re out on your own.
Start paying off debt as soon as possible. Most student loan programs have a six-month grace period, but it’s important to start paying them off as soon as you’re able, in order to avoid interest. To learn more, here’s a guide.
Check your credit. You'll need good credit to get affordable financing on a car, home, personal loan or credit card. You can check your credit reports for free every 12 months via AnnualCreditReport.com. You can see your current credit scores for free each month via websites like Credit Sesame. To build good credit, make loan payments on time, keep debt levels low and limit new credit inquiries.
Build your safety net. Though retirement seems like years away, any money you put into your 401(k) now will get you big returns by the time you're 65, thanks to compound interest. Also think about building an emergency fund that would cover three months of expenses. (You can compare competitive savings account offers through our partner Even Financial.)
On the hunt for a new job? Here’s where to look.
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Image: Poodar Chu