New college grads get optimistic new job outlook
Posted on : 16-05-2010 | By : Joshua Parker | In : Credit Cards Articles
Tags: Job, Job Outlook
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SOUTH BEND — There’s been a change of pace at college graduation ceremonies across the country this month, as a growing number of students walk right into something unexpected: a job.
Prospects may suddenly be looking a little brighter for the class of 2010. An annual study from the National Association of Colleges and Employers shows hiring among college seniors up this spring for the first time in three years.
NACE’s 2010 Student Survey shows 24.4 percent of 2010 graduates who applied for a job actually have one waiting for them after graduation. Last year, that figure was 19.7 percent.
NACE polled more than 31,470 students representing more than 400 colleges and universities nationwide for the survey. More than 13,000 of those students were graduating seniors.
Inside Notre Dame’s Joyce Center just before 6pm Tuesday, nearly 1,000 graduating seniors from Indiana University-South Bend lined up for their moment to walk across the platform and receive their diploma.
For Chad Haviland and Tim Vogel, both graduating with degrees in Marketing–Haviland with a double degree in Advertising, too–it was a special moment. Years of hard work were finally paying off.
But, after watching many of their classmates at IUSB walk across the same stage in years past and leave without a job in hand, both couldn’t help but wonder what kind of future they’d be walking into.
Turns out, it didn’t take long to find the answer.
“It was quick for me,” Haviland said. “I actually had a few different offers, and I’m now working at Fastenal doing sales and industrial supplies.”
“I got an internship back in February, so it just sort of progressed through that,” Vogel said. “I wasn’t really surprised as I was just really thankful, relieved and blessed. I have a lot of friends that don’t have jobs right now.”
It’s a far different story among the class of 2010 than it’s been over the last few years, and IUSB Career Services Office Director Jeffery Jackson isn’t the least bit surprised.
“We’ve had three consecutive quarters of growth as it relates to jobs being added to the economy. We did take a big hit, especially in the manufacturing heavy areas like Elkhart. But, I think we’re back on the right track,” Jackson said.
This year, Jackson has seen something absent in recent springs: recruiters calling him for help finding employees.
“We’re seeing conservative recruitment from hospitality–the hotel industry, banking, the service industry, and not-for-profit interest is up. Last year we didn’t have as many companies calling us. This year, we do. And, actually we’ve had a number of them contact us this week. That’s somewhat surprising,” Jackson said.
Still, that doesn’t mean things are suddenly easy for soon-to-be grads.
Nationally, the unemployment rate for those ages 18-24 remains at 15.8 percent, almost a full 6 percent higher than the national unemployment rate of 9.9 percent.
The NACE report shows that may be playing into the sudden increase in hiring for new college grads.
This year, 39 percent of seniors taking part in the study reported they had received job offers, and 59 percent of those students took the job. Last year, 40 percent of responding seniors were offered jobs, but only 45 percent accepted them.
“There appears to be a greater awareness of the economic realities among this year’s graduates, and greater flexibility in the types of jobs they will consider,” NACE executive director Marilyn Mackes wrote in the survey.
“It’s very frustrating,” said IUSB student Laura Morris, graduating with a degree in criminal justice, but still without a full-time job. “I’m ready to get out there and work, and nobody wants me. They don’t want people with no experience.”
“It’s very difficult to get interviews right now,” agreed Leslie Star, graduating with a degree in mass communications. “I’m still searching.”
Jackson says–while lack of experience can be a negative for some employers, for others it’s a positive.
“Sometimes that experience can cost a company a lot more, and that may be money they don’t have right now,” he said.
Proof of that may lie in another NACE study, released in April. According to that study, new college grads in 2010 will earn almost $800 less this year on average than they did last year. Starting salary offers for new graduates holding bachelor’s degrees in 2010 average $47,673 this year, down from $48,815 last year.
Still, Jackson is confident the outlook for college grads has turned a corner, and you don’t have to convince Haviland or Vogel.
“I fell like the market’s getting better, I definitely do,” Haviland said.
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