New college graduates are facing a tough job market this year, according to data from Gusto.
The average May and June hiring rate for the class of 2025 is forecast to be 4.8%, which is 16% lower than last year’s rate of 5.8%. It’s also 44% lower than the hiring rate of 8.7% just a few years ago for the class of 2022.
The low rate is due to a broader slowdown in the labor market, especially for entry-level roles. Tariffs, inflation and uncertainty about interest rates have many employees holding onto their jobs and many employers pausing expansion plans.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
Corey Dahl
Corey Dahl is assistant editor with PropertyCasualty360.com. Reach her at [email protected].
