If the American Dream is defined by the pursuit of happiness through opportunity, education and upward mobility (however one defines that), then the dream is over. As society has changed, so has the traditional image of what it means to be successful in America. Homeownership has decreased as more Americans are pushed toward renting amid economic turmoil. One of the most pressing issues is the modern state of the job market, which has significantly affected young people entering the workforce.
As college tuition rapidly increases alongside inflation, the pressure is mounting on young people to find a job following graduation. The importance of ROI (Return on Investment) has been emphasized as a deciding factor in the college acceptance process as post-graduate opportunities become central to incoming students’ plans. Colleges are leveraging a strong alumni network that pairs students with meaningful work experience to bolster their reputation and attract applicants, given the uncertain future regarding access to employment. Ironically, it is the increasing number of college graduates that have weakened the strength of a degree in the hiring process.
Yet, despite rising costs on all fronts, the number of available jobs has not served to accommodate the demand for employment. Job openings trending down are putting pressure on students to treat college less like an opportunity for higher education and more like a pre-interview, where every ounce of experience can make the slightest difference in a competitively narrow market. This shift in students’ approach to college education could be attributed to a culture of “low-hire, low-fire,” where employers are hesitant to contribute to their turnover rate through employment changes.
Simply put, there are fewer available entry-level jobs for college graduates. There have been a myriad of potential explanations, with an enduring one being the swift adoption of Artificial Intelligence, which has made traditional entry level positions initially filled by newly graduates obsolete. Although the idea that AI has singlehandedly led to the current crisis in the job market has been cited, there are other economic factors that have been making a sizable impact on the market that cannot be attributed solely to the effects of AI.
Because a college degree alone no longer guarantees employment, refining other parts of the application is essential to stand out. Having a tailored portfolio that emphasizes relevant experiences that would pair well with the job being applied for is a notable advantage, even though it is time consuming and harder to use for other jobs. Generally, holding relevant internships and volunteer positions during college is no longer optional, but necessary to increase one’s hireability.
Additionally, these positions may not be available on traditional job-seeking platforms, as the rise of ghost jobs have complicated the search. Instead, having a network of peers in a field can be of assistance, as they can refer to emerging opportunities that would otherwise be unidentified. Outside of college, having a personal passion project showcasing employable skills— such as adept use of software or knowledge of relevant terminology—makes it simple for potential employers to identify promising applicants.
Ultimately, not much can determine the exact combination of traits that makes a young professional attractive to employers, especially with specific roles that have been changing with the market. But knowing what can be optimized in a resume can make a difference in an uncertain market.
