Gen Z has already shown adaptability, jumping over employment hurdle after hurdle, and their future is still uncertain.
As the Class of 2025 prepares to enter the world of work, the latest jobs report offers some insight to what’s going on in the market.
On the bright side, March brought 228,000 new jobs, surpassing February’s slower 151,000-job growth. Wage growth held steady at 0.3% month-over-month, and sectors like healthcare and retail saw a hiring boost. The unemployment rate changed just a tad — creeping up slightly from 4.1% to 4.2%, a reminder of underlying challenges in the labor market.
As graduation approaches and the job hunt begins, professors are sharing their best advice to help students navigate the twists and turns of today’s ever-changing economy.
First up is Meir Statman, Glenn Klimek Professor of Finance at Santa Clara University’s Leavey School of Business. He’s renowned for his work in behavioral finance, which bridges psychology and financial decision-making. His message to students? “Sit tight,” he says.
Leavey School of Business Professor Meir Statman. Courtesy photo
Statman urges graduates to resist the temptation to hyperfixate on fluctuating job market trends. “Sometimes fear sets in – and people tend to extrapolate trends,” he explains. Instead of feeding into fear, he advises students to look inward and invest in understanding their unique skills and passions. “Look for what you think is easy work – work that comes naturally to you that others compliment you on,” he suggests.
Statman offers an analogy, comparing navigating the job market to a tennis match. “Investing is like playing tennis against a practice wall,” he says. “You can position yourself to bounce the ball back. But the job market is more like tennis against a random opponent; you might face an easy to beat opponent, or you might face Djokovic. Luck plays a role.”
Rather than obsess over whether this moment in the labor market is Djokovic-level tough, Statman says students should give energy to the importance of networking and finding the right industry fit. “The job market might be good or bad, but what matters most for getting a job is your ability to network. Focus on the things that improve your chances, regardless of market conditions,” he offers.
In his new book, A Wealth of Well-Being: A Holistic Approach to Behavioral Finance, Statman discusses the broader concept of life well-being, urging people to move beyond financial goals alone. “You need financial well-being for life well-being, but it is life well-being that we seek,” he says.