Navigating Life After School: The Challenge of Job Hunting in an Unstable Economy

By Agarah Bibisinuoluwa

 

 

After four years of rigorous study, Ibiyemi graduated at the top of her class with a degree in Economics. Armed with a high grade point average and numerous internships, she was confident she would land her dream job swiftly. Yet, six months later, Ibiyemi found herself still unemployed, her enthusiasm waning with each rejection email. Ibiyemi’s story is far from unique.

This paints a grim picture of the current economic landscape, where an oversaturated job market and an unstable economy make it increasingly difficult for young professionals to find stable employment. As new graduates venture into the world of work, they are met with many challenges that previous generations may not have faced.

Finding a job post-graduation has always posed challenges, but today's unstable economy exacerbates these difficulties significantly. With industries fluctuating and job markets oversaturated, many graduates find themselves in a precarious position, facing unemployment or underemployment. Economic downturns have further strained job prospects, leaving many young professionals struggling to secure stable, well-paying positions.

For many recent graduates, the excitement of earning a degree quickly leads to the daunting task of finding a job. Unfortunately, the reality of the current job market is far from encouraging. One of the primary issues contributing to this problem is the oversaturation of certain job markets. Fields such as business administration, communication, and psychology, among others, have produced many graduates relative to the available entry-level positions. This imbalance creates intense job competition, making it difficult for even the most qualified candidates to stand out. The supply of graduates far exceeds the demand in these areas, leaving many to settle for positions outside their field of study or in roles that do not require a college degree.

Moreover, the rise of automation and technological advancements has reshaped many industries, reducing the number of available entry-level jobs. Positions that previously acted as launching pads for recent graduates are now being taken over by advanced software. For instance, in copywriting, automated writing tools are increasingly employed to create stories, thereby decreasing the need for entry-level reporters. This shift forces graduates to seek alternative career paths or to acquire additional skills to remain competitive.

The economic instability further complicates matters. The recent global pandemic significantly affected the job market, leading to widespread layoffs and freezes on hiring. Many companies have adopted a cautious approach to hiring, prioritising experienced professionals over fresh graduates. This trend exacerbates the difficulties faced by job seekers, who frequently compete against seasoned professionals for identical positions. The result is a job market where opportunities are scarce and highly contested.

Higher education institutions play a critical role in shaping students' futures, particularly as they transition into the job market. The University of Ibadan implemented various programs and services to prepare students for their careers. These initiatives include internships, job fairs, resume workshops, and career counselling. Institutions often collaborate with industry partners to offer students hands-on experience and networking opportunities, which can be invaluable in securing employment post-graduation.

However, despite these efforts, the effectiveness of career services and job placement programs may sometimes fall short. One common critique is that career programs do not happen often enough in the session and thus they are unable to provide individualised support to students. Additionally, the skills taught in schools and the practical skills demanded by employers may differ drastically. For example, while students may excel in theoretical knowledge, they may lack proficiency in industry-specific software or tools, leaving them disadvantaged in the job market.

Another issue is the focus on certain industries over others. Career services often emphasise high-demand fields like technology and business, potentially neglecting students pursuing careers in less lucrative or niche areas. This can result in unequal support and preparation across different disciplines, further contributing to the challenges graduates face in securing relevant employment.

However, some graduates have overcome these challenges by leveraging their networks, being open to different career paths, and continuously upskilling. It’s important to stay persistent and open to opportunities that might not be exactly what you envisioned.