EL PASO, Texas (KTSM) — Spring and summer college graduates from the class of 2024 may face more challenges entering the workforce than previous years.

That’s according to economists who say while the job market is favorable right now, there are a couple of obstacles new graduates may face.

Tom Fullerton, an economics professor at UTEP, said the El Paso labor market is in good shape with the March unemployment rate landing at 4.5% and wages and salaries are generally increasing, but the spike in interest rates from 2022-2023 are having an impact on the market.

“The job market does seem to be decelerating and we’re starting to see more defensive postures in terms of people that already have jobs in that they are not as prone to quitting as they were six months ago,” Fullerton said.

In addition to less people leaving their positions, the Labor Department reported that the nation’s job growth slowed to 175,000 in April. This figure fell short of the 240,000 analysts projected.

Fullerton said: “New graduates, even though it’s a good time to be looking for a job, they might be well advised to be a little bit flexible and maybe not hold out as much as they could have 12 months ago if there’s a job that pretty much aligns with their objectives.”

The current market is one that recent UT-Austin graduate, Gustavo Pereda, is currently navigating. With a bachelor’s degree in computer science, Pereda said he would like to move back to El Paso but there is not much for his skillset.

“More than likely, I will get something in Austin. El Paso not as much, there is some openings here and there, but not as vibrant and active like places in Austin or bigger cities. I do want to get it remote so I can stay in El Paso and, you know, be with my family and help the community of El Paso grow,” Pereda said.

El Paso has a few industries that are considered to be growing and thriving.

Kandolite Carson, communications director with Workforce Solutions Borderplex, said: “Industries that we see that continue to trend are in government. We see them in medical and health, logistics and transportation, construction and technology. We’ve seen a huge rise, obviously, in aerospace and IT, especially with the current landscape where a lot of work and there’s a lot of reliance on technology.”

Carson said WSB works with jobseekers to tap into their full potential and businesses to remain competitive in an ever-changing labor market.

Carson said: “Not only are we trying to expand those areas of growth in those fields, but we’re also expanding the training that is available here for those students or even people who are already in the workforce to pivot and jump into these fields. Those openings and that training is available, and so the students just need to look for it.”

WSB has several programs available for people looking for jobs in the El Paso region and provides career planning solutions for those struggling to find a job.

“If for some reason there’s not something here in El Paso, we want them to still stay in the city. There are options to work for companies out of town, fully remote, but to still be able to stay home as you continue looking for other opportunities for your career growth here in the city,” Carson said.

Pereda hopes to take the remote route for now and pursue other passions like filmmaking while living in the Sun City. He said: “A lot of my friends who are looking for jobs or are currently in jobs looking to switch. They’re saying it’s a little bit difficult at the moment, but it’s a roller coaster. It goes up and down. So, I think right now it’s still in the lows, but I’m hoping it does pick up.”

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