Literally, the party is over because you have finally gotten your diploma. And now it’s time to get a return on your investment. It’s time to get a job. But it hasn’t been that easy, has it? You have submitted your well-written resume to countless companies, been on dozens of interviews, attended a bunch of job fairs, and career seminars. But still, you haven’t had any luck. You are not alone.
Like you, many members of the class of 2014 from universities all across the country are struggling to find employment, especially in their chosen career. The problem is that we are still experiencing a very slow recovery from the Great Recession. According to USA Today, employment dropped from 6.7 to 6.3 percent, the first time since September 2008. Still, the portion of Americans 25-34 who were working in April fell to a five-month low of 75.5 percent, down from 75.9 percent in March, says USA Today. Although many of the 2014 college graduates remain optimistic about finding a job and are still actively searching, others have just given up.
"The entire drop (in unemployment) was due to people dropping out of the labor force, in particular young people," Heidi Shierholz, a labor market economist who writes an annual report on the state of employment for young adults for the Economic Policy Institute told USA Today.
Although the economic outlook for 2014 college graduates is rather depressing. There are some who graduated with degrees in engineering, business, accounting, healthcare, and of course, computer science that are in high demand. The highest-paying occupation that has produced the most jobs post-recession was software developer (applications and systems software), says Forbes. Over 100K software developer jobs were added to the U.S. economy since 2010, which is an 11 percent growth. According to Forbes, 1,042,402 people are currently employed as software developers in the U.S., earning an average hourly wage of $45.06.
The second top job for 2014 is market research analysts and marketing specialists followed by training and development specialists. So you didn’t get one of those high-demand degrees? Have you thought about relocating?
Where to Look?
Many college graduates who are unable to find a job in their hometown or where they went to college are moving to bigger cities with more opportunities. As reported by TheStreet.com, WalletHub—which provides consumer reviews of personal-finance firms—ranked "The 5 Best Cities to Start a Career" for graduates interested in relocating to start fresh and earn big bucks. The winners were graded by America’s 150 most-populous cities on a scale of 18 economic and quality-of-life measures important to recent graduates with factors ranging from local jobless rates to how many young adults and unmarried people (i.e., potential dates) call a given city home.
"It’s important for young people to realize that there’s a big, big difference between some of the best and worst cities in terms of what you can earn, the cost of living and even [dating] opportunities," Odysseas Papadimitriou of WalletHub told TheStreet.com.
Savvy class of 2014 members will make Washington, D.C. the capital of their job searches, says TheStreet.com, because it ranked No. 1 among major U.S. communities for median-income growth, second for median starting salaries, sixth for tech jobs as a percentage of total employment, and eighth for economic mobility and population growth. Last, but certainly not the least, Washington, D.C. also ranked No. 1 for the share of locals who’ve never been married, and second for 25- to 34-year-olds as a percentage of population. Our nation’s capital is followed by Denver, Irving, Texas, Seattle, and Minneapolis.
Another option is West Virginia, which was one of the 32 states awarded money to help train unemployed workers for high-demand industries. The United States Department of Labor announced more than $154 million was awarded through its Job-Driven National Emergency Grant program. West Virginia’s job training program will focus on the construction, and oil and gas industries.
Don’t Give Up
Be optimistic! The fact of the matter is that you made it through the annoying roommates, intense research papers, late night study sessions, and demanding instructors to obtain your diploma. You simply cannot give up now. It is not an option.