2024 graduates face uphill battle in tough job market

NEW JERSEY, UNITED STATES — As the Class of 2024 enters the job market, they face numerous uncertainties. Having navigated a pandemic and a disrupted education, many graduates are concerned about job market stability, daily work life, and the risk of burnout.

Moreover, a recent study by SHL reveals that companies plan to hire 5.8% fewer new graduates compared to last year. Similarly, a Resume Genius survey finds Gen Z the toughest to manage and campus protests may also impact employment prospects. These signal a potential uphill battle for those entering the workforce. 

AI disruption reshapes entry-level job landscape

One of the primary factors contributing to the decline in entry-level hiring is the increasing adoption of artificial intelligence (AI) in the workplace. 

Many companies are leveraging AI to automate tasks previously performed by recent graduates, leading to a reassessment of their entry-level talent needs.

Only 24% of organizations use assessments for early career roles, and just 27% rank graduate hiring programs as their top priority. Instead, 57% of organizations focus on hiring and developing talent internally.

“Organizations’ emphasis on graduates’ communication, adaptability and reliability reflects the dynamic and collaborative nature of modern workplaces,” Matt Kirk, talent acquisition expert at SHL, told Forbes.

“The need for graduates to manage up and deliver effective presentations highlights the growing importance of leadership and influence at all levels of an organization.”

Graduates remain optimistic despite employment challenges

A recent Handshake survey of 2,687 students planning to graduate with bachelor’s degrees in 2024 reveals mixed feelings about their future. The survey highlights five key trends such as financial concerns, relocation, employer reputation, government jobs, and diverse applications.

Despite the obstacles, the class of 2024 remains optimistic about their prospects. The same survey revealed that 70% of graduates are confident they will find opportunities to apply their skills and build their desired careers.

“This year’s graduates may be anxious about the future, but they’re as determined as ever to launch successful, rewarding careers,” the report states. 

“They’re clear on their priorities—stability, location, and an employer’s reputation as a great place to work.”