Job Prospects Continue to be Strong for the Class of 2024
Majority of employers plan to increase or maintain their hiring levels for the Class of 2024
By Matt Cardin
Assistant Vice President of Enrollment Management and Career Initiatives at Iona University
While there are some mixed signals about the economy and the job market, overall, the Class of 2024 is entering a favorable job market.
At Iona University, we especially continue to see signs of a strong entry-level job market for graduating students. Earlier this spring, we had 90 employers actively recruiting at our Spring Career Fair and observed demand in several industry sectors, including health care, government, nonprofit, human services and education. Employers have been increasing recruiting efforts on campus and engaging more with early talent.
According to the National Association of College Employers (NACE) Job Outlook 2024 Spring Update, released on April 11, 2024, 83 percent of employers indicated either increasing or maintaining their hiring levels for the Class of 2024. While 17 percent of employers surveyed planned to decrease the level of new hires, generating an overall decline in hiring projections of 5.8 percent compared to last year, it is important to place this stat in a larger context. This anticipated dip follows two years of record-setting levels of hiring post-pandemic, and even with this adjustment, there are a lot of job opportunities for the Class of 2024.
In addition, with the unemployment rate remaining at historic lows and hovering between 3.7 percent and 3.9 percent since August 2023 according to the Bureau of Labor Statistics, this also suggests a favorable job market for the Class of 2024.
Notably, despite concerns over the cost of education, a college degree is still a wise investment. While a degree itself does not guarantee a job, it dramatically increases an individual’s earnings over their lifetime. Also, individuals with degrees are more employable and experience lower unemployment rates, in addition to being healthier, happier and more involved in their communities, according to the Lumina Foundation Report, “It’s Not Just the Money, the Benefits of College Education to Individuals and to Society.”
For members of the Class of 2024, preparation is key. If students work with Iona’s Center for Career Development and put the time and energy into their job search, they will have job offers by Commencement. The entry-level positions are there for them, and we are here to support them along the way.
ABOUT IONA
Founded in 1940, Iona University is a master's-granting private, Catholic, coeducational institution of learning in the tradition of the Edmund Rice Christian Brothers. Iona's 45-acre New Rochelle campus and 28-acre Bronxville campus are just 20 miles north of Midtown Manhattan. With a total enrollment of nearly 4,000 students and an alumni base of more than 50,000 around the world, Iona is a diverse community of learners and scholars dedicated to academic excellence and the values of justice, peace and service. Iona is highly accredited, offering undergraduate degrees in liberal arts, science and business administration, as well as Master of Arts, Master of Science and Master of Business Administration degrees and numerous advanced certificate programs. Iona students enjoy small class sizes, engaged professors and a wide array of academic programs across the School of Arts & Science; LaPenta School of Business; NewYork-Presbyterian Iona School of Health Sciences; and Hynes Institute for Entrepreneurship & Innovation. Iona is widely recognized in prestigious rankings, including The Princeton Review’s 2024 national list of “The Best 389 Colleges” and The Wall Street Journal/College Pulse’s “2024 Best Colleges in America,” which ranked Iona at #66 in the nation overall and #8 in the nation among Catholic schools. Iona’s LaPenta School of Business is also accredited by AACSB International, a recognition awarded to just six percent of business schools worldwide. In addition, The Princeton Review recognized Iona’s on-campus MBA program as a “Best Business School for 2023.” Iona also offers a fully online MBA program for even greater flexibility. In July 2021, Iona announced the establishment of the NewYork-Presbyterian Iona School of Health Sciences, which is now principally located on Iona’s Bronxville campus in collaboration with NewYork-Presbyterian. Connecting to its Irish heritage, the University also recently announced it is expanding abroad with a new campus in County Mayo, Ireland. A school on the rise, Iona officially changed its status from College to University on July 1, 2022, reflecting the growth of its academic programs and the prestige of an Iona education.