Opinion: LinkedIn Chief Economist: Gen Z should feel good about the job market right now

Opinion: LinkedIn Chief Economist: Gen Z should feel good about the job market right now

Fast forward two years, and the situation looks much brighter for Gen Z and young millennials entering the workforce today. Despite recent headwinds such as inflationary pressures and geopolitical tensions fueling economic uncertainty, opportunities still abound for entry-level positions in the United States.

Here are some key findings from a recent LinkedIn report that looked at top trends and industries for those just starting out.
Workers with less than four years of full-time work are seeing a steady comeback after the 2020 decline. LinkedIn data shows that overall hiring rates in 2021 have recovered from pandemic lows, up 25% from compared to 2020. And while Gen Z hiring rates still have room to catch up with the overall recovery, they also rebounded in 2021, up 15% from 2020.
Companies are signaling they are ready and willing to hire more young talent, with employers planning to hire nearly 30% more new graduates than they did in 2021, according to a recent survey by the National. Association of Colleges and Employers.

Entry-level opportunities are growing fastest in Sun Belt cities

While large coastal cities like New York and San Francisco continue to attract many new workers, a few smaller cities top the list of fastest growing cities for entry-level positions.

LinkedIn data shows that Austin, Chattanooga, Raleigh and Charlotte are now the fastest growing markets for entry-level positions in the United States. There are many advantages to working in these Sun Belt cities. In particular, they are more affordable than big cities, which is especially important given that rental prices are reaching new heights.

HR, hospitality and healthcare top the list of sectors hiring for entry-level positions

At the industry level, staffing and recruitment, hospitality, healthcare, and biotechnology are the sectors that saw the largest gains in entry-level job openings.

Review: Want to keep your employees happy?  Give these 5 things

Hospitality – one of the hardest hit sectors during the 2020 lockdowns – has made a comeback as increased travel and tourism has heightened the need for these businesses to revive hiring activity to keep up.

And health care continues to prove a booming sector for jobs at all levels, with roles such as vaccine specialists (some of whom are entry-level) – representing only a tiny fraction of open positions before. the pandemic – becoming one of the most dynamic. jobs on LinkedIn right now.

Jobs are changing

Many young professionals – and especially new graduates – often think first and foremost about how to market their existing skills. And while that will always be a necessary tactic to land a role, what’s becoming increasingly important is also being able to communicate a willingness to adapt and learn new skills along the way.

LinkedIn research shows that, on average, skill sets for jobs have changed by about 25% since 2015. In other words, an entry-level data scientist today needs to bring different skills to the role compared to what the same data scientist brought five years ago. What can differentiate young professionals in the job search is demonstrating an understanding of the evolving nature of the industry and a willingness to continue learning on the job.

Those who do it well will be better positioned to weather the storms of turbulent labor markets and stand out among crowded candidate pools.

Leave a Reply

Your email address will not be published.