As thousands of young Georgians graduate from high school and college this month, many parents are now hoping to hear those four magic words from their children: “I have a job!”
Finding employment, though, might be tough.
The unemployment rate for recent college graduates ages 22-27 in March was 5.6%, higher than the rate for all workers, according to data released this month by the Federal Reserve Bank of New York. The hiring rate — the share of the workforce that starts a new job in a given month — has hovered well below prepandemic levels for more than a year, The Washington Post recently reported.
While many college students have voiced concerns about finding work or creating job opportunities because of the rise of artificial intelligence, some experts say that might not be the story. The increase appears to be driven by an increase in labor force participation rather than a declining probability of having a job, according to the Economic Policy Institute.
An April report by the National Association of Colleges and Employers found about 4 in 10 employers are not seeking candidates with AI skills. The rest were evenly split between saying they are looking for candidates with AI expertise or they weren’t sure. The top AI skill employers are seeking is to be able to identify and use AI tools appropriate to the task.
Universities across Georgia are increasingly offering more AI classes in hopes of preparing students for a changing job market. Georgia Tech currently offers about 200 AI-themed courses, The Atlanta Journal-Constitution reported earlier this year, and the University of Georgia launched an initiative to hire 70 new faculty members with expertise in AI and data science.
There might be some hope for this year’s graduates. Employers project a 5.6% increase in hiring for the class of 2026, according to an April report by the National Association of Colleges and Employers. The report found the top professions for hiring include construction, engineering services and wholesale trade. Industries with decreased hiring include food and beverage manufacturing, chemical pharmaceutical manufacturing and utilities.
Industries projected to see increases in employees in Georgia include manufacturing, wholesale trade, healthcare and social assistance, according to the state Department of Labor data.
It appears students graduating this year with engineering degrees will do well. The median first year salary for a chemical or electrical engineering bachelor’s degree graduate from a school in the University System of Georgia is more than $80,000. Computer science graduates make around $75,000. Registered nurses make nearly $73,000.
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