Hiring could pick up for new grads in Baltimore
When potential homebuyers are looking for a new place to call home, they are often intent about living in an area with strong employment. Regions with low unemployment rates and strong economic opportunities allow residents to feel comfortable about their ability to find or maintain a job. For new grads, metros featuring a spike in hiring are an exceptional place to look for an entry-level job.
According to a new survey from the National Association of Colleges and Employers, companies are expected to hire 13 percent more college graduates from the class of 2013 than they did in 2012. The organization's research found that employers in sectors such as pharmaceuticals, computer and electronics manufacturing, retail trade, finance, insurance, real estate, management consulting and professional services are expected to post double-digit increases in the upcoming year.
For new grads looking to skip high rents, an affordable home in the Baltimore area could be a potential solution. Recent college graduates with well-paying jobs could live at home, save their money and make a decent down payment on a home for a stronger housing investment.
The state of local employment in Baltimore
While the United State Department of Labor has not released all of the August 2012 employment figures, many of the niche industry numbers are out. In August, there were 1,296,500 total nonfarm jobs in the Baltimore-Towson statistical area - this is a .5 percent increase for the same month one year ago.
Baltimore's employment levels were strong for the industries that were predicted to have double-digit increases in hiring for the upcoming year. Employment in the professional and business service industries improved by 2.9 percent in a year-over-year comparison - 203,600 jobs were sustained in August 2012.
The financial industry in the greater Baltimore area supported 73,000 jobs during August 2012 - a 1.5 percent decrease from the prior year. While a decrease in the number of jobs currently held in the financial field is not positive news, expert predictions of a rise in employment opportunities in 2013 could boost hiring practices within a short period of time.
Check out the MLS listings in Baltimore to determine if one of the homes for sale in the region is the right housing option for you.