The protracted COVID-19 pandemic has exerted considerable pressure on the employability landscape. Even when the global economy continues to recover gradually after the pandemic, many challenges remain, and it is too early to celebrate. This research adopts a mixed-method approach. A questionnaire survey (n = 151) and focus group interviews (n = 18) were conducted during the pandemic in Hong Kong to examine final-year students' perceived impacts of social vulnerability and economic atmosphere on their career prospects and level of confidence in entering the job market. Quantitative and qualitative research findings supported each other and revealed that students were generally pessimistic about obtaining job opportunities after graduation. To have a deeper understanding of the effects of external factors on students' job confidence in the post-pandemic times, the focus group was conducted (n = 20) with a new batch of graduating students who are about to seek full-time employment in the post-pandemic period. Findings showed an increase in their employability confidence level from during-pandemic to post-pandemic. Therefore, this study contributes to the body of knowledge by exploring the relevant factors that affect the graduates' employability confidence level and understanding the job market expectations to consider possible intervention programmes conducive to graduate employability at higher education institutions.