More bad news for college grads: Fewer jobs and more competition

"Landing your first job has never felt easy - but for today's college grads, the hunt has likely gotten worse. In a survey of 2,440 class of 2026 students, more than 60% said they felt pessimistic about their career prospects, according to Handshake's Workforce Outlook report. That's a 10% jump from two years ago. While grim, that outlook may reflect the reality of today's challenging entry-level job market."

"While it's typical for the job market to fluctuate, Handshake chief education strategy officer Christine Cruzvergara told Business Insider that the last time grads faced a market this tough was during the market crash in 2008 and 2009. "That was a really tough period of time," Cruzvergara told Business Insider about 2008, adding that she was responsible for putting on a career fair at the time, but a "huge chunk" of the employers no longer existed by the time the fair happened."

"The job market may not be battling a recession like 2008, but it has its own challenges, and not just for entry-level workers. Many companies are reeling from economic uncertainty brought on by tariffs, and the July jobs report confirmed what many job seekers have experienced in recent months. The report revealed that 33,000 fewer jobs were added than expected, and larger-than-usualrevisions to May and June's job growth suggest earlier growth was weaker than initially thought."

Job postings for early talent decreased over 16% year-over-year as of August. The average number of applications per position rose 26% year-over-year, intensifying competition. A survey of 2,440 class of 2026 students found more than 60% felt pessimistic about career prospects, a 10% increase from two years prior. Historical parallels point to the 2008–2009 market crash as the last time new graduates faced similar difficulty. Economic headwinds include tariffs and weaker-than-expected job growth in July, which added 33,000 fewer jobs than projected and showed revisions indicating earlier growth was overstated.

Read at Business Insider