\n
![](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/07\/GettyImages-1414670368-e1720088807818.jpg?w=2048\")
<\/p>\n [ad_1]
\n<\/p>\n
Gen Z college grads may have just tossed their graduation caps into the air, eyes bright for the career ahead of them\u2014but they\u2019ll need to join the queue of young, highly qualified \u201cunemployable\u201d professionals<\/a> who just can\u2019t get a job in the current market.<\/p>\n The difficult job market\u2014along with high rental prices\u2014is why those eyeing a move to the likes of New York to chase their American Dream would have better luck turning their attention to smaller cities where competition is lower.\u00a0<\/p>\n New research<\/a> shows that Raleigh, N.C., is the best place for college grads to find their first jobs.<\/p>\n ADP Research Institute analyzed 55 U.S. metro areas with at least 1 million residents and assessed over 4 million 20-something-year-olds\u2014and Raleigh ranked highest with the best hiring rate for recent graduates, wages above the 80th percentile and moderate affordability.<\/p>\n \u201cHigher salaries in bustling metro areas might seem irresistible. But the actual value of a paycheck is more complex than it appears,\u201d the report explains. \u201cAnd to get that paycheck in the first place, you need to get hired.\u201d<\/p>\n As part of America\u2019s \u201cResearch Triangle,\u201d Raleigh is home to more than 300 companies, many of which are in the science and technology sectors and looking for fresh talent.\u00a0<\/p>\n Young new hires there can expect an annual wage (adjusted for affordability) of around $52,857.\u00a0<\/p>\n Although grads can expect bigger pay checks (over $58,000) if they land a job in San Francisco\u2019s Bay Area, they\u2019ve got more than twice the chance of being hired in the first place at Raleigh.\u00a0<\/p>\n 1. Raleigh<\/strong> 2. Baltimore<\/strong> 3. Atlanta<\/strong> 4. Charlotte<\/strong> 5. Austin<\/strong> Baltimore and Atlanta followed behind Raleigh in ADP\u2019s rankings of the top metropolitan areas for job-seeking grads for similar reasons: Strong science and technology employment prospects.\u00a0<\/p>\n Austin and Charlotte, N.C., complete the top five cities for college grads.<\/p>\n There\u2019s a growing cohort of Gen Z who are classified as NEETs\u2014\u201cnot in employment, education, or training\u201d<\/a>. But not all of them are unemployed by choice.\u00a0<\/p>\n A significant chunk are highly qualified and want to work, but just can\u2019t land a job\u2014and may never, a Korn Ferry report recently warned.<\/a><\/p>\n During the pandemic, firms hit pause on their hiring to brace for a recession that ultimately never really arrived.\u00a0<\/p>\n Now, employers are operating a \u201cwait and watch strategy\u201d as AI promises to revolutionize the way we work.\u00a0<\/a><\/p>\n \u201cThey\u2019re hesitant about committing to full-time roles,\u201d Adam Prager, co-leader of the North America professional services practice at Korn Ferry<\/a> explained, adding that employers expect AI to make their workers more efficient and don\u2019t want to resort to job cuts later down the line.<\/p>\n But employers\u2019 cautiousness is creating a hellish experience for graduates looking to get a foot in the door of employment: As businesses cling to the workers they have and expect them to make do with less, fresh talent has become virtually unemployable.<\/p>\n<\/div>\n\nThe top 5 cities for college grads\u00a0<\/h2>\n
Affordability-adjusted annual wage: $52,857
Hiring rate: 5%\u00a0<\/p>\n
Affordability-adjusted annual wage: $50,767
Hiring rate: 3.4%\u00a0
(Hiring rate measures how much employers grew their headcount among highly prepared 20-29 year olds)<\/p>\n
Affordability-adjusted annual wage: $50,631
Hiring rate: 2.9%\u00a0<\/p>\n
Affordability-adjusted annual wage: $51,606
Hiring rate: 2.8%\u00a0<\/p>\n
Affordability-adjusted annual wage: $57,522
Hiring rate: 2.7%\u00a0<\/p>\nWhy are college grads \u2018unemployable\u2019?<\/h2>\n