NYC Among Worst Places For College Graduates To Find Work: Study

New York City NY

17 May, 2021

11:34 AM

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NEW YORK CITY — New York City may have a lot to offer its residents, but it isn't the best place for young professionals to begin their working careers and ranks among the worst places in the country to do so, according to a new report. Personal finance website WalletHub compared 182 U.S. cities based on 28 factors of career friendliness and ranked New York City 180th in terms of desirable locations for recent college graduates to find their first job. The study included entry-level salaries and housing affordability in the metrics used to score cities. New York ranked ahead of only Hialeah, Fla., and Newark, NJ, among the worst places for recent graduates to find meaningful work coming out of college. The city finished with a score of 33.15, which is well off the pace set by Salt Lake City, Utah, which ranked first with a score of 69.15, according to the WalletHub study. Orlando, Atlanta, Austin, Texas, and Columbia, South Carolina, rounded out the Top 5, according to the study. The study is being released at a time when graduates may find difficulty landing their first job, according to the study. The unemployment rate among people between 20 and 24 sat at 15.4 percent in April. While employers are planning on hiring 7.2 percent more graduates this year than they did in 2020, the job market continues to be affected by the coronavirus pandemic, the study shows, which makes finding work even more daunting. New York ranked last in the fewest entry-level jobs were 100,000 working-age residents and also finished at the bottom in least affordable housing, the study showed. Here's how New York ranked (out of 182nd) in key categories. Projected population growth 159th (2046 compared to the highest score of 2016)Housing affordability 182ndAdjusted average starting salary (166th) Number of entry-level jobs 182ndAnnual job growth rate 92ndWorkforce diversity 131stUnemployment rate 178thAdults Aged 25 and older with at least a bachelor's degree 53rdAverage Daily COVID-19 Cases in the past week per capita 146th