A job market where you can snag your dream job with few requirements.
Thank you, President Trump.
Americans looking to land a first job or break into a dream career face their best odds of success in years.
Employers say they are abandoning preferences for college degrees and specific skill sets to speed up hiring and broaden the pool of job candidates. Many companies added requirements to job postings after the recession, when millions were out of work and human-resources departments were stacked with résumés….
“Candidates have so many options today,” said Amy Glaser, senior vice president of Adecco Group, a staffing agency with about 10,000 company clients in search of employees. “If a company requires a degree, two rounds of interviews and a test for hard skills, candidates can go down the street to another employer who will make them an offer that day.”….
In the first half of 2018, the share of job postings requesting a college degree fell to 30% from 32% in 2017, according to an analysis by labor-market research firm Burning Glass Technologies of 15 million ads on websites such as Indeed and Craigslist. Minimum qualifications have been drifting lower since 2012, when companies sought college graduates for 34% of those positions….
It all marks a sharp reversal from the immediate aftermath of the financial crisis, when employers could be pickier. Economists say job requirements were harder to track then, because many companies didn’t post positions publicly and many résumés weren’t delivered electronically.
Now, recruiters say, the tightest job market in decades has left employers looking to tamp down hiring costs with three options: Offer more money upfront, lower their standards or retrain current staff in coding, procurement or other necessary skills….
The new shift, called “down skilling,” bolsters a theory articulated by Alicia Modestino, a Northeastern University economist: When more people are looking for work, companies can afford to inflate job requirements to find the best fit—and did so as unemployment spiked in 2008….
The tech industry has been quick to dismiss credentials like a bachelor of arts degree as irrelevant, especially in emerging fields such as data analytics, where demand for talent has risen faster than universities can churn out new graduates….