New report shows college grads confident about finding a job despite tough economic times

As a new group of college graduates prepares to enter the workforce during these turbulent economic times, many of them appear anxious yet confident about finding a job quickly. And while they also anticipate having to compromise during their job search, they’re looking for positions that offer advancement and career-growth opportunities. In fact, for some that’s a deal-breaker.

Those are just a few of the takeaways from the Monster 2023 State of the Graduate Report, which highlights insights from 1,000 recent and soon-to-be college graduates. The annual report presented by the online job platform reveals their priorities and attitudes regarding the current job market.

Monster CEO Scott Gutz notes in the report’s introduction that practically no industry has remained untouched by the pressures of rising inflation and economic instability. Therefore, expectations of new workers might be too high.

“[The report] shows a rapidly changing entry-level workforce with job expectations that may exceed what employers can offer [in] the current hiring landscape,” its authors write. “However, with a dwindling labor force and increased pressure on employers to source talent, companies have to note 2023 graduates’ work priorities — salary and flexibility — remain king. The challenge this year for both employers and graduates will be finding the balance with what companies can offer and what entry-level workers expect, especially in this changing economic climate and new era in the world of work.”

Other highlights of the report include:

• Nearly three-quarters (74%) of graduates are worried about current economic conditions, but 88% are confident they’ll receive a job offer shortly after graduating.

• More than half (54%) would turn down a job at a company that doesn’t offer career growth.

• More graduates (45%) expect a higher starting salary this year, despite widespread layoffs and climbing employer costs.
• Almost half (49%) say the most important aspect of a job is a flexible work schedule, and 34% say it’s the ability to work remotely.

Related: Job seekers retain the upper hand in 2023

• While diversity is important to graduates, it’s less of a priority this year (42%) compared to 2022 (57%), as graduates focus on other factors such as salary and flexibility.

• Mental health and work-life balance are important for graduates, with the majority (59%) saying they would quit a job if the workplace became toxic.