Green Job Market Poised for Growth as U.S. Economy Reopens
Opportunities abound for recent grads eager to launch their careers
The graduating class of 2020 entered a bleak job market, possibly the worst since the Great Recession. With businesses closed, restrictions and mandates in place, and the country gripped by COVID-19, new grads ended up on the backburner. One study cited in the Wall Street Journal found that entry-level college graduates suffered greatly, with hiring falling 45%.
But the 2021 narrative is decidedly more hopeful. Employers are expected to hire 7.2% more college graduates this year. Not to mention, close to 50% of the adult population has been fully vaccinated. This has spurred new economic growth, business openings, and a return to some version of normalcy.
Employment prospects are even brighter for grads who are eyeing their first green jobs. Even before this first stage of recovery, positions classified as environmental, social and governance jobs proved remarkably resilient. They paid higher wages and were less likely to be cut during economic downturns.
Now, analysts are predicting a post-pandemic, green job boom.
On the energy side alone, businesses received a huge transfusion of cash from the most recent pandemic relief bill, and President Biden has pledged to create 10 million clean energy jobs. By 2026, clean energy jobs are expected to have grown 9%.
Beyond clean energy, there have also been positive signs throughout the STEM sector. Over the last year, average salaries increased and many surveyed STEM workers across North America and the UK reported high levels of satisfaction and job security. Also, throughout the pandemic, women in STEM jobs were able to sidestep the so-called “she-cession”, as their jobs were protected and necessary. In addition to fewer job cuts, the sector saw increased growth, at a time when many industries downsized.
This lines up with analysis from the McKinsey Global Institute, which predicts higher demand for STEM workers now than before the pandemic, a side effect of the public’s increased focus on health, science, and the environment.
In short, the green job market showed more stability and agility when many other sectors struggled to survive. As all industries see renewed growth, the number of green jobs, of all kinds, will likely far outpace openings in other fields. There’s also evidence that green jobs can hang on in the face of economic instability and adversity, meaning these jobs will continue to be essential regardless of what the future holds.
For new grads seeking out their first green sector opportunities, there couldn’t be a better time to get started.
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1 Selingo, Jeffrey and Sigelman, Matt. (February 4, 2021). The Crisis of Unemployed College Graduates. Retrieved from: https://www.wsj.com/articles/the-crisis-of-unemployed-college-graduates-11612454124
2 Dickler, Jessica. (April 7, 2021). New college grad job outlook looks promising for Class of 2021. Retrieved from: https://www.cnbc.com/2021/04/07/new-college-grad-job-outlook-improves-for-class-of-2021.html
3 Carlsen, Audrey, et al. (June 3, 2021). How Is The COVID-19 Vaccination Campaign Going In Your State? Retrieved from: https://www.npr.org/sections/health-shots/2021/01/28/960901166/how-is-the-covid-19-vaccination-campaign-going-in-your-state
4 Herman, Paul, et al. (December 2020). 6 Months Into the Pandemic, ‘Greener’ Jobs Are Safer, Higher Paid, More Resilient. Retrieved from: https://sustainablebrands.com/read/defining-the-next-economy/6-months-into-the-pandemic-greener-jobs-are-safer-higher-paid-more-resilient
5 Joe Biden. (2021). Climate: 10 Million Clean Energy Jobs. Retrieved from: https://joebiden.com/climate-labor-fact-sheet/
6 Altenergymag.com. (April 8, 2021). Getting green jobs back on the grid in a post-pandemic economy. Retrieved from: https://www.altenergymag.com/story/2021/03/getting-green-jobs-back-on-the-grid-in-a-post-pandemic-economy/34811/
7 Lofts, Joe. (April 28, 2021). The impact of COVID-19 on the STEM sector. Retrieved from: https://www.srgtalent.com/blog/the-impact-of-covid-19-on-the-stem-sector
8 Michelson, Joan. (March 29, 2021). The Secret Success Of Women In STEM Jobs in 2020. Retrieved from: https://www.forbes.com/sites/joanmichelson2/2021/03/29/the-secret-success-of-women-in-stem-jobs-in-2020/?sh=527348c936ff
9 McKinsey Global Institute. (February 18, 2021). The future of work after COVID-19. Retrieved from: https://www.mckinsey.com/featured-insights/future-of-work/the-future-of-work-after-covid-19