Tough job market for 2020 grads, experts say

Posted at 5:46 PM, Apr 24, 2020
and last updated 2020-04-27 12:01:01-04

COLORADO SPRINGS — It's graduation season, but for the Class of 2020 - they're heading into a very challenging post-grad life.

COVID-19 is impacting how and when they'll get a job, and some experts are calling this the worst job market since 2009. So many things are on hold right now including hiring for jobs and internships, and with millions of people already unemployed graduates need to consider alternative options.

Edwin Koc said, "This was going to be a good year. It was going to be a good year."

Koc is the director of research, public policy & legislative affairs for the National Association of Colleges and Employers. He says that in February job projections were promising for those graduating this year.

"The expectation was basically around 6% increase in terms of hiring for the Class of 2020."

But in March "life changed dramatically," he said. Now, internships are being revoked and for actual jobs "the real bad consideration is that we still have 22% of our employers who are considering revoking offers."

Tatiana Bailey, director of the UCCS Economic Forum, said, "I'm not going to sugarcoat it. It's going to be a tough market for those individuals...most companies have hiring freezes, a lot of them have layoffs."

So what should grads do? If you're pursuing work in the high-demand healthcare or IT fields you're probably set. However, for other areas, grads need to get creative.

If you can afford it Bailey shared that it's a good time to add on "another major, another certification or whatever it is."

Doing so would give grads additional training that could be applied now or in the future.

As far as income "there are a lot of teaching assistant and nanny-type jobs out there also...a lot of companies that maybe don't want to hire a full-time, you know, salaried employee, might be willing to hire someone as a freelancer," said Bailey.

No matter if it's a job or internship you're pursuing - keep on trying.

Koc said, "Hang in will improve, although it may take some time before it improves."

Both Bailey and Koc are advising grads to take what they can get when it comes to a job. If you're still struggling to find employment consider volunteering. That experience, even though you're not getting paid, is helpful on a resume.