The job market has always been a bit of a rollercoaster, but it’s been especially tough for recent graduates trying to land their first gig lately.
Evan Sohn, CEO of Aura Intelligence, recently sat down with Oliver Renick on Schwab Network’s "Morning Trade Live" to talk about what’s going on in the job market—and it’s clear that the landscape for entry-level jobs has shifted dramatically.
Sohn on the Shifting Job Market Landscape
Sohn shared some eye-opening statistics during the conversation. He pointed out that in 2023, entry-level job postings dropped by a whopping 38%.
That’s a considerable decline, leaving many new grads in a tough spot. It’s not just about fewer job postings; the available ones often come with steep requirements.
Gone are the days when a degree and a bit of enthusiasm were enough. Many entry-level positions demand several years of experience and a laundry list of specialized skills, which most recent grads don’t have yet.
This job trend creates a real bottleneck for young professionals trying to break into their fields. Sohn noted how frustrating it can be for new graduates to come across job listings that seem more suited to someone with a few years under their belt rather than someone fresh out of school. This sentiment resonates with many young job seekers today.
But that’s not the only challenging job-related trend on the horizon. The rise of AI and automation is changing the game across various industries. According to Sohn, while there’s an increase in AI-related job opportunities, these roles typically aren’t open to just anyone. Unless you’re coming out of college with specific skills—think data science or machine learning—these jobs might be out of reach for now.
This shift presents yet another hurdle for recent grads, further narrowing the field of accessible jobs.
Hope on the Horizon for Entry-Level Job Seekers
However, it’s not all doom and gloom. Sohn pointed out that the first quarter of 2024 showed a slightly increasing trend in entry-level job postings. It’s a small but hopeful sign that things might be starting to turn around. Of course, the recovery is still in its early days, and there’s a long way to go, but it’s a step in the right direction.
Evan Sohn’s discussion on Schwab Network highlighted the reality of the current job market for new graduates: it’s tough out there, but staying adaptable and informed is crucial. As we navigate these challenging times, it’s clear that both job seekers and employers need to stay flexible and forward-thinking. The road might be bumpy, but with the right approach, opportunities can be found.
Catch the full interview for more insights from Evan Sohn, and stay tuned for more in-depth job market analysis from Aura—because in today’s market, staying informed isn’t just important, it’s essential.
