Financial Focus: Job market hot for college grads, senior citizens

8:32 PM, Jun 20, 2019

COLORADO SPRINGS – The job market is on fire and not just for recent college grads, but also for senior citizens.

Our partner at Carlson Financial explained why and what opportunities are out there for both of these groups.

When we look at today’s job market it’s a completely different view than what it was 10 years ago.

Carl Carlson, CEO of Carlson Financial, said, “We were really hitting a tough, tough economy.”

For Jeff Garber who works in the construction industry, there were “a lot of people that we had to just lay off for lack of work until the market would pick up again.”

Thankfully, things have turned around. It’s good news for Garber who is 52 and wants to retire someday.

Garber said, “The economy’s really good, a lot of money in the economy and unemployment is very low.”

In fact, it’s right around 3.6 percent which Carlson said is “historically very low.”

He said the low unemployment rate is a positive thing for recent college graduates. The National Association of Colleges and Employers has reported that U.S employers are expected to hire nearly 11 percent more graduates from the Class of 2019 than they did the year before.

The best opportunities for them, Carlson said, are “what they call the STEM degrees.”

It’s not just young people gaining traction.

“The unemployment rate is actually even lower for those people over age 65.”

Carlson shared that the Bureau of Labor Statistics has said that in just a few years 32 percent of the workforce is going to be over age 65 with opportunities for them spanning across all fields.

“People are working and it’s not just because they haven’t saved enough for retirement. It’s been because the last 10 years has been grueling in the market.”

While senior citizens may be employed now it won’t last forever as Carlson said we’ve been in a bull market for several years. In short, get out there and find a job now while you can.

Carlson Financial is a sponsor of Financial Focus.

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