Current Economic Trends & the Job Market Webinar with Barron’s

On October 30th Barron’s hosted a webinar on current economic trends and the job market moderated by Lauren Rutkowski, Senior Engagement Manager at Barron’s and Joe Laurenzano, Account Manager at Dow Jones. Lauren and Joe asked Megan Leonhardt, Senior Economics Writer at Barron’s and Nicole Pesce, Assistant Managing Editor at Marketwatch, to answer pre-submitted questions from students in the audience. Following this, students were then able to submit questions live via the chat feature.

The conversation began with questions surrounding the outlook on the US market as well as the outlook for employment for recent graduates. In answering this, Megan underscored that the contexts that drive the data we see are crucial for how we understand that data. We cannot look at the employment numbers that were coming out later that week, or any week for that matter, without factoring variables such as the Boeing strike and the effects of two disastrous hurricanes. However, given external variables there remains a cautious optimism about the outlook for college students and new graduates when it comes to hiring.

While the unemployment rates for new graduates have been higher than the national average, as interest rates lower, they anticipate this to spur more investments in the business side of things. This coupled with some of the lingering trauma from prior labor shortages will in the end be a good thing for hiring.

Currently most hiring seems to be happening in government and healthcare sectors. However, it is expected that the government hiring may slow down as state budgets are stretched. Though, there is a lot of room to run for healthcare when it comes to growth and hiring. There has not been much of an appetite to hire within technology, finance, and professional services and opportunities are not as readily available as they once were. It is expected that this pattern will hold for at least the short term future.

As we turned to the live Q&A, one student asked what skills are the most important for finance professionals to stay relevant. The answer was two parts, first, be open and curious about AI, but do not use it as a crutch in anything you do. Second, soft skills are critically important. Money in general is an emotional topic and so those working in finance need to have strong communication skills and empathy.

Given the state of the market, another student inquired about standing out in the application process. Nicole answered by sharing how important it is to make sure you do your research on the company and look into what they do. Come prepared with specifics about what impresses you about that organization, or projects you may be interested in. Additionally, it is critical to come to these interviews with questions of your own. You are interviewing them as much as they are interviewing you! Lastly, she spoke to the importance of taking initiative and sending a personalized thank you note following your interview.

In closing out the webinar, the growth of the healthcare sector was reiterated, as it is anticipated to continue growing over the next decade. If you find yourself looking for more opportunities, it may be worthwhile to look within the healthcare sector, including but not limited to, healthcare administration, healthcare technology and apps. Overall, this was an excellent conversation with an optimistic undertone for the future of hiring.