There's one question every student dreads as their undergraduate career comes to an end: what are your plans for after graduation? Rather than focusing solely on searching for full time opportunities, graduates today would be wise to consider contracting. From flexible schedules and exposure to different projects, to developing varied skillsets and well-paid assignments, the benefits of freelancing speak for themselves.
We've shared some background information and a sneak peek video of our annual Best Practices Summit. Today, I'm going to give you more insight into our education sessions. Our breakouts feature both SAP Fieldglass and customer speakers so that attendees can hear from their peers who have been there, done that.
SAP Fieldglass is excited to share in the powerful partnership between Microsoft and SAP by integrating our VMS with Microsoft Office 365 applications. The integration redefines productivity for business users by allowing them to connect in the cloud, simplifying the procurement and management of external workforce programs.
April's Employment Situation Summary from the BLS showed the US economy gained only 160,000 jobs in the month while the unemployment rate held steady at 5 percent. There was a slight dip in the laborforce participation rate from 63 percent to 62.8%. Meanwhile, average weekly hours ticked up to 34.5 and average hourly earnings rose to $25.53 representing a 2.5% increase year-over-year. The increase in average hours and earnings are signs of a tighter labor market. This may also be visible in the slowdown in overall job creation.
Today we continue our workforce tips series with a deep dive into why contingent work is beneficial for new graduates in today's market. It’s no coincidence that the number of freelancers has grown as more millennials have entered the workforce. A recent study found 38% of millennials freelance – a higher percentage than any other generation.
So, what advice do we have for new graduates who are considering contract work? We asked them: