Latest news with #Cruzvergara
Business Mayor
16-05-2025
- Business
- Business Mayor
College grads face a 'tough and competitive' job market this year, expert says
A graduating student of the CCNY wears a message on his cap during the College's commencement ceremony. Mike Segar | Reuters New college graduates looking for work now are finding a tighter labor market than they expected even a few months ago. The unemployment rate for recent college grads reached 5.8% in March, up from 4.6% the same time a year ago, according to an April report from the Federal Reserve Bank of New York. Job postings at Handshake, a campus recruiting platform, are down 15% over the past year, while the number of applications has risen by 30%. Christine Cruzvergara, chief education strategy officer at Handshake, says new grads are finding a 'tough and competitive' market. 'There's a lot of uncertainty and certainly a lot of competition for the current graduates that are coming into the job market,' she said. Here's a look at more stories on how to manage, grow and protect your money for the years ahead. How federal job cuts hurt the Class of 2025 While the job creation in the U.S. has continued to show signs of strength, policy changes have driven the uncertainty. President Donald Trump has frozen federal hiring and done mass firings of government workers. Evercore ISI, an investment bank, estimated earlier this month that 350,000 federal workers have been impacted by cuts from Department of Government Efficiency, representing roughly 15% of federal workers, with layoffs set to take effect over the coming months. 'In early January, the class of 2025 was on track to meet and even exceed the number of applications to federal government jobs,' Cruzvergara said. When the executive orders hit in mid-January there was 'a pretty steep decline all of a sudden, she said. 'The federal government is one of the largest employers in this country, and also one of the largest employers for entry-level employees as well,' said Loujaina Abdelwahed, senior economist at Revelio Labs, a workforce intelligence firm. Employment uncertainty related to tariffs, AI On-again, off-again tariff policies have created uncertainty for companies, with a third of chief executive officers in a recent CNBC survey expecting to cut jobs this year because of the import taxes. Job losses from artificial intelligence technology are also a concern. A majority, 62%, of the Class of 2025 are concerned about what AI will mean for their jobs, compared to 44% two years ago, according to a survey by Handshake. Graduates in the humanities and computer science are the most worried about AI's impact on jobs. 'I think it's more about a redefinition of the entry level than it is about an elimination of the entry level,' Cruzvergara said. Postings for jobs in hospitality, education services, and sales were showing monthly growth through March, according to Revelio Labs. But almost all industries, with the exception of information jobs, saw pullbacks in April. How to land a job in a tough market For new grads hunting for a job, experts advise keeping a positive mindset. 'Employers don't want to hire someone that they feel like is desperate or bitter or upset,' said Cruzvergara. 'They want to hire someone that still feels like there's a lot of opportunity, there's a lot of potential.' Here are two tactics that can help with your search: 1. Look at small firms — they may provide big opportunities Companies with fewer than 250 employees may offer better opportunities to grow and learn than bigger 'brand name' firms, according to Revelio Labs. A new study by Revelio found that five years into their careers, graduates had comparable salary progression, promotion timelines, and managerial prospects — regardless of the size of their first employer. However, people who started their careers at small companies were 1.5 times more likely to become founders of their own companies later in their careers. The study looked at individuals who earned bachelor's degrees in the U.S. between 2015 and 2022, following their career paths post-graduation. While some young workers may have entered start-ups with the goal of starting their own firm in the future, Abdelwahed said there's often an opportunity at smaller companies to be given responsibilities beyond the job's role. 'Because the company's small and the work needs to get done, so they just start to develop this entrepreneurship drive,' Abdelwahed said. 2. Network and use informational interviews Experts also urge recent grads to reach out to people working in industries that pique their interest. 'Take an interest in someone else. Ask them questions about how they got to where they are, what they've learned, what you should know about that particular industry, what are emerging trends or issues that are facing them in the field right now,' said Cruzvergara. This approach can help you sound more knowledgeable in the application and interviewing process. — CNBC's Sharon Epperson contributed reporting. SIGN UP: Money 101 is an 8-week learning course on financial freedom, delivered weekly to your inbox. Sign up here. It is also available in Spanish.
CNBC
16-05-2025
- Business
- CNBC
College grads face a 'tough and competitive' job market this year, expert says
New college graduates looking for work now are finding a tighter labor market than they expected even a few months ago. The unemployment rate for recent college grads reached 5.8% in March, up from 4.6% the same time a year ago, according to an April report from the Federal Reserve Bank of New York. Job postings at Handshake, a campus recruiting platform, are down 15% over the past year, while the number of applications has risen by 30%. Christine Cruzvergara, chief education strategy officer at Handshake, says new grads are finding a "tough and competitive" market. "There's a lot of uncertainty and certainly a lot of competition for the current graduates that are coming into the job market," she the job creation in the U.S. has continued to show signs of strength, policy changes have driven the uncertainty. President Donald Trump has frozen federal hiring and done mass firings of government workers. Evercore ISI, an investment bank, estimated earlier this month that 350,000 federal workers have been impacted by cuts from Department of Government Efficiency, representing roughly 15% of federal workers, with layoffs set to take effect over the coming months. "In early January, the class of 2025 was on track to meet and even exceed the number of applications to federal government jobs," Cruzvergara said. When the executive orders hit in mid-January there was "a pretty steep decline all of a sudden, she said. "The federal government is one of the largest employers in this country, and also one of the largest employers for entry-level employees as well," said Loujaina Abdelwahed, senior economist at Revelio Labs, a workforce intelligence firm. On-again, off-again tariff policies have created uncertainty for companies, with a third of chief executive officers in a recent CNBC survey expecting to cut jobs this year because of the import taxes. Job losses from artificial intelligence technology are also a concern. A majority, 62%, of the Class of 2025 are concerned about what AI will mean for their jobs, compared to 44% two years ago, according to a survey by Handshake. Graduates in the humanities and computer science are the most worried about AI's impact on jobs. "I think it's more about a redefinition of the entry level than it is about an elimination of the entry level," Cruzvergara said. Postings for jobs in hospitality, education services, and sales were showing monthly growth through March, according to Revelio Labs. But almost all industries, with the exception of information jobs, saw pullbacks in April. For new grads hunting for a job, experts advise keeping a positive mindset. "Employers don't want to hire someone that they feel like is desperate or bitter or upset," said Cruzvergara. "They want to hire someone that still feels like there's a lot of opportunity, there's a lot of potential." Here are two tactics that can help with your search: Companies with fewer than 250 employees may offer better opportunities to grow and learn than bigger "brand name" firms, according to Revelio Labs. A new study by Revelio found that five years into their careers, graduates had comparable salary progression, promotion timelines, and managerial prospects — regardless of the size of their first employer. However, people who started their careers at small companies were 1.5 times more likely to become founders of their own companies later in their careers. The study looked at individuals who earned bachelor's degrees in the U.S. between 2015 and 2022, following their career paths post-graduation. While some young workers may have entered start-ups with the goal of starting their own firm in the future, Abdelwahed said there's often an opportunity at smaller companies to be given responsibilities beyond the job's role. "Because the company's small and the work needs to get done, so they just start to develop this entrepreneurship drive," Abdelwahed said. Experts also urge recent grads to reach out to people working in industries that pique their interest. "Take an interest in someone else. Ask them questions about how they got to where they are, what they've learned, what you should know about that particular industry, what are emerging trends or issues that are facing them in the field right now," said Cruzvergara. This approach can help you sound more knowledgeable in the application and interviewing process.
Business Insider
26-04-2025
- Business
- Business Insider
Federal jobs aren't so hot anymore for recent grads
A year ago, the hashtag "government jobs" was trending on TikTok, with videos of employees hyping up the stability and perks of the field and explaining best practices to get a job. Interest in the industry was surging. Not so much anymore. In a highly competitive year, federal employers were the only industry that saw year-over-year applications decline in the second half of the school year, according to Handshake data shared with BI. The federal government lost more application share than any industry year-over-year, aside from tech, the platform said. Government roles, including state, local and federal sectors, received about 4.4% of the Class of 2025's total applications, down from about 5.5% for the Class of 2024 last year, according to Handshake's Class of 2025 report released Thursday. Last year, the hiring platform reported a significant uptick in job availability and interest from college students to work for the government. At the time, stability was the top priority for graduating students, and government jobs delivered exactly that. "People presumed at the time, there's nothing more secure than a government job," Handshake chief education strategy officer Christine Cruzvergara told Business Insider in an interview. Cruzvergara said the class of 2025 was on track to follow and surpass that trend until a series of executive orders signed by President Donald Trump hit the federal workforce in January. Around mid-January, federal jobs were drawing 2.7 times as many applications as state roles or local roles, despite state and local roles outnumbering federal roles over six to one, Handshake told BI. But by early April, state employers were receiving 1.5 times as many applications as federal employers, and local employers were just below, the platform told BI. "January hits and, all of a sudden, government lost a ton," Cruzvergara said, adding that the federal government specifically "lost a ton of applications." Increased interest in state and local roles While federal job applications dropped 40% year over year in the second half of the school year, local roles increased by 31% and state roles by 35%. Cruzvergara said there's essentially been "a flip" between the government sectors. Prior to the executive orders, students were more interested in federal jobs, and there was some interest in state and local roles. This year, interest in state and local jobs went up after mid-January. That's not a total surprise. Trump implemented a federal hiring freeze just about as soon as he got into office. He also created DOGE, led by tech billionaire Elon Musk, which has been on a mission to reduce the federal workforce and dismantle agencies. Meanwhile, states like New York, California, and Virginia released hiring campaigns within their local and state governments for federal workers. Cruzvergara said that students who were really set on working in government likely ended up looking at state or local positions instead. The priorities of this year's graduating class may have also influenced their interest in state and local positions. While stability was the top priority last year, it came in second this year, behind location, Handshake said in its report. State and local roles allow job seekers more flexibility to choose where they want to work. Back to the private sector Cruzvergara told BI that some job seekers from the class of 2025 who had high intentions of entering the federal government are shifting back to the private sector. Handshake told BI that there was an increase in applications to roles in tech, finance, healthcare, and consulting among seniors who had previously applied to federal roles before the executive orders. "You've got students that are going back into finance, back into tech, back into some of the areas that they were leaving to go to the federal government last year," Cruzvergara told BI. Cruzvergara said that there have also been increases in applications to nonprofits, law, and even real estate, which can also intersect with state and local policy. The choice to reconsider the private sector often came down to practicality, Cruzvergara. The Class of 2025, in particular, is less rigid about sticking to one path and more open to using their skills across different areas. Handshake's report found that out of 57% of the Class of 2025 who started college with a "dream job" in mind, fewer than half still have the same goals.
Yahoo
24-04-2025
- Business
- Yahoo
Nearly half of Gen Z and millennials say college was a waste of money—AI has already made degrees obsolete
College graduates are calling their degrees worthless. According to new data from Indeed, piling student loans and fears of AI reshaping the workplace are to blame. While experts say higher education is still important, Gen Z should constantly prioritize 'upgrading their toolkit' to be successful. College is often advertised as the best four years of one's life, but many Americans now have regrets. More than a third of all graduates now say their degree was a 'waste of money,' according to a new survey by Indeed. This frustration is especially pronounced among Gen Z, with 51% expressing remorse—compared to 41% of millennials and just 20% of baby boomers. Overall, a growing share of college-educated workers are questioning the return on investment (ROI) of their degree, Kyle M.K., a career trend expert at Indeed, told Fortune. It's something that's not all too surprising considering that the average cost of a bachelor's degree has doubled in the last two decades to over $38,000, and total student loan debt has ballooned to nearly $2 trillion. 'Another 38% feel student loans have limited their career growth more than their diploma has accelerated it,' M.K. said. 'Together, these realities are nudging universities and employers to shift focus from pedigree to practical skill. In fact, 52% of U.S. job postings on Indeed don't list any formal education requirement.' However, for many young people, this realization is coming too late. Already, some 4.3 million Gen Z have been left behind as 'NEETs'—not in education, employment, or training—with no clear direction on how to restart their early careers. For young people in particular, who are navigating a less than ideal job market, it can be difficult to see the long-term ROI of college. This is especially true when, for some subjects, like psychology, philosophy, or English, it can take over 20 years in the workforce for the degree to pay for itself, according to the Education Data Initiative. However, Christine Cruzvergara, chief education strategy officer at Handshake, warns against valuing a degree from a purely quantitative standpoint. 'It's shortsighted to focus only on immediate employment, as that makes the assumption that the value of higher education is only to get your first job,' Cruzvergara told Fortune. 'When in reality, higher education contributes to career advancement opportunities, exposure to a variety of fields, aids in self-discovery, and develops management and leadership skills.' While nearly 70% of young graduates believe they could do their job without a degree, they may have not been exposed to their network without it. Cruzvergara says that universities are failing to promote that they're more than just a piece of paper that'll open doors after graduation day, but a hotbed for learning and meeting like-minded people while on campus. For example, Mark Zuckerberg dropped out of Harvard during his sophomore year to focus on building Facebook into the social media empire it is today. But he couldn't have done it without the four cofounders he met at university. 'Gen Z faces a particularly uncertain job market, and there's a need for a better connection between education investment and outcomes,' she adds. The spread of artificial intelligence into all parts of education and the workplace has made college graduates question their degree even more, with some 30% feeling AI has outright made their degree irrelevant—a number that jumps to 45% among Gen Zers. This is despite efforts from thought leaders in the space to calm fears about AI replacing workers. 'AI is not going to take your job,' Netflix's co-CEO Ted Sarandos said last year. 'The person who uses AI well might take your job.' While M.K. admits that skill areas like routine programming, basic data analysis, and templated content creation have become highly exposed to AI, fields like nursing, advanced project management, and creative strategy are relatively insulated. 'AI is more of an amplifier than a pink slip,' M.K. said, adding that above all else, those who prioritize lifelong learning and have open conversations with their employer about AI will be able to soar in the wake of technological advancements. 'AI won't invalidate a solid education, but it will reward those who keep upgrading their toolkit.' This story was originally featured on
Axios
09-03-2025
- Business
- Axios
How Gen Z is thinking about AI at work
Gen Z workers are approaching generative AI with a mix of caution and optimism. Why it matters: Today's young workers are starting their careers during a massive technological revolution. The big picture: Employers and HR pros say they're willing to take chances on otherwise less qualified candidates if they have AI experience, Christine Cruzvergara, chief education strategy officer at entry-level job platform Handshake, tells Axios. Gen Z "is likely to be the generation that is going to help teach the rest of the workforce GenAI," Cruzvergara adds. "They're more comfortable with it, they don't mind experimenting with it." The share of job descriptions on Handshake mentioning generative AI more than tripled from 2023 to 2024 — but still represented fewer than 1% of listings in April 2024. Case in point: Avalon Fenster, 23, taught herself how to use AI in her personal and professional life — then wound up showing her older coworkers the lay of the land during internships. Fenster now runs a platform called Internship Girl, which uses AI to help provide career resources to about 350,000 young women from more than 100 countries. She promotes AI to level the professional playing field, especially for first-generation college students or non-native English speakers. Threat level: Fenster, now a law student, is concerned about AI's impact on critical thinking skills, and wants companies and schools to provide AI literacy training. "Even as a young person who is native to these tools, even as someone who advocates for them, I do have concerns over the way that it impacts our ability to think independently, formulate ideas, communicate ideas," she says. AI's environmental toll is a turnoff for other young people. "I personally took a stand to not use AI because of the climate impact," says Katya Danziger, a 25-year-old computer science student and research assistant at Parsons, who stopped using AI chatbots about six months ago. Each time you ask ChatGPT a question Axios' Scott Rosenberg reports, you're using much more energy than you would for a Google query. Career impact is also a Gen Z concern. In a recent Pew survey, 35% of U.S. workers between 18 and 29 said they think AI will lead to fewer job opportunities. Yes, but:"Sometimes having a little bit of nervousness around the fact that it might impact your career is not a bad thing," Cruzvergara says. "It keeps you on your toes a little bit, and makes it so that you're ready and nimble." Go deeper: AI jobs on the rise, new LinkedIn report finds
