COVID-19 led economic slowdown has reached the graduate job market.
Promises faltered, offers taken back, and few places to begin your career – this is what characterizes the job market today for many college graduates. It was much worse when the world was right in the middle of the storm during 2020.
Is there a need to innovate academic programs for educators and align teaching with the industry? Yes.
New job trends have a huge implication on education. According to a survey by the Michigan State University,
The expected hires (no. of students who would get employment offers) will fall from 63,555 to 59,000.
Overall, 25% of employers suspended their spring 2020 hiring or rescinded offers that were already sent during spring recruitment.
In addition to the jobs, student internships were hit as much.
40% of the employers rescinded their internship offers or suspended hiring.
Other recruiting trends in the fall semester found that:
The change in the employment landscape was somewhat expected as firms adjusted their hiring patterns – but it’s also a result of the long-standing need to align, education with industry. Educating leaders vis-à-vis industry requirements is the only way to prepare students for the future.
One of the reasons for this intensifying situation is that even colleges and universities have suspended their credit courses or those with internships associated with them.
The system needs an overhaul. Innovating education is a must.
Educating leaders is the first step in making students industry-ready, and employable. This will hedge them against uncertainties.
Amid this sorry state of affairs, a few peculiar trends have emerged. Some of those calls out on the inefficiency of incremental changes in the education system. Here are some of the odd, but interesting trends.
Academic programs for educators are a must if students are to feel ready for the world out there.
Nearly 50% of the employers feel that it will take a while before education and employment return to normal. Most put 2-3 years as their estimate, and some go on to say that it will take even longer.
Schools, students, and college graduates mustn’t expect a quick recovery. But in the meanwhile, keep preparing and readying for the new normal and new future that is approaching, and coming fast.