Job prospects improve for new grads
The average number of applications per opening has fallen from 40.5 in 2010 to just over 21.
According to a new survey conducted by the National Association of Colleges and Employers, employers say they will hire 19.3% more new college graduates this year than they did last year. Post continues after video.
The stats are an improvement over the 13.5% increase projected back in September and represent the best hiring scene a graduating class has experienced in years.
"This is the first time since 2007 that we've seen a double-digit increase in spring hiring projections," Marilyn Mackes, NACE's executive director, said in a press release. "That's a good indication that the job market for new college graduates is gaining momentum."
NACE, an organization created to facilitate the employment of college-educated job seekers, conducts seasonal surveys of the job market to get an idea of what new graduates may be in for during their job search. The latest survey includes responses from 174 organizations nationwide.
The survey found that hiring increases are expected across regions and most industries. In particular, oil and gas extraction companies, chemical manufacturers, computer and electronics manufacturers, and finance, insurance and real estate employers all report that they will implement aggressive hiring plans for younger workers.
Additionally, while organizations reported that the number of job applications they receive has risen nearly 45%, NACE also found that the total number of open positions has tripled. As a result, the average number of applications per opening has fallen from 40.5 in 2010 to just over 21.
"Employers are receiving fewer applications per job opening as current graduates now have more opportunities to choose from," Mackes said.
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