March 26, 2021
Given the change of course that has happened in the world, we wanted to provide expert opinions on what aspiring graduates can do to start off their careers in an uncertain economic climate. We wanted to know what skills will be more important, where the economy is doing relatively well, and if there will be any lasting effects on the job market.
Companies are looking for candidates that can handle the new responsibilities of the job market. Recent graduates actually have an advantage because they are comfortable using newer technologies and have been communicating virtually their whole lives. They can take what they've learned and apply it immediately.
We spoke to professors and experts from several universities and companies to get their opinions on where the job market for recent graduates is heading, as well as how young graduates entering the industry can be adequately prepared. Here are their thoughts.
Michael Ellis Ph.D.: Most economics undergraduates obtain jobs as analysts, especially in the financial and non-financial business industries, because of their skills in analyzing data. The pre-coronavirus pandemic trend of increasing job opportunities for those who can analyze data will not be reversed by the pandemic and in fact may increase the growth of such job opportunities.
Michael Ellis Ph.D.: Data analytics courses develop highly desired skills in the job market and would have the biggest positive impact on economics majors job prospects. A data analytics minor or certification combined with an economics major would be an excellent combination. If a data analytics minor or certificate is not available, students could take courses in econometrics, computer programing, coding and, in order to interpret data, economic theory.
Michael Ellis Ph.D.: It is important to continue learning throughout one's career as changes in industry and technology occur. This will promote career advancement and increase earning potential.