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College grads finding it harder than ever to gain employment
Decline in hiring of college gradutes has reached 22 percent, according to NACE
Rebecca Johnson
Issue date: 5/28/09 Section: News
By Rebecca Johnson
The Daily Barometer
While many seniors may be celebrating their upcoming entrance into the "real world," a sobering report from the National Association of College and Employers paints the struggle many will face in finding employment in the months following graduation.
The NACE has reported an expected 22 percent decline in the hiring of college graduates this year.
"More than two-thirds of employers said the economic situation forced them to re-evaluate their college hiring plans, and nearly all of those said they have decreased their planned number of hires," said Marilyn Mackes, NACE executive director.
The survey indicates that the cautionary hiring practices by businesses are due to the economic downturn. With a national unemployment rate at almost 9 percent, graduates are being added to a job market pool that is struggling to provide for even its current populace.
In another report, the NACE has stated that those who do find jobs can expect to make less compared to those who enter the workforce during more lucrative economic times.
"More disciplines are seeing their starting salary average fall compared to last year at this time. In our current report, 42 percent of the disciplines that experienced a change in their starting salary average saw that average decrease. In comparison, last year at this time, that number was just 14 percent," Mackes said.
However, there is good news for those going into the engineering field, because that discipline has actually seen a 2 percent increase in starting offers, even during tough economic times.
This is not the worst dip in recent history: The recession of 2002 saw college hiring trends fall almost 36 percent, but eventually that number evened out as the economy improved.
OSU Career Services admits that companies that normally look to OSU graduates to hire have been unable to take on new employees at the same rate as previous years.
The Daily Barometer
While many seniors may be celebrating their upcoming entrance into the "real world," a sobering report from the National Association of College and Employers paints the struggle many will face in finding employment in the months following graduation.
The NACE has reported an expected 22 percent decline in the hiring of college graduates this year.
"More than two-thirds of employers said the economic situation forced them to re-evaluate their college hiring plans, and nearly all of those said they have decreased their planned number of hires," said Marilyn Mackes, NACE executive director.
The survey indicates that the cautionary hiring practices by businesses are due to the economic downturn. With a national unemployment rate at almost 9 percent, graduates are being added to a job market pool that is struggling to provide for even its current populace.
In another report, the NACE has stated that those who do find jobs can expect to make less compared to those who enter the workforce during more lucrative economic times.
"More disciplines are seeing their starting salary average fall compared to last year at this time. In our current report, 42 percent of the disciplines that experienced a change in their starting salary average saw that average decrease. In comparison, last year at this time, that number was just 14 percent," Mackes said.
However, there is good news for those going into the engineering field, because that discipline has actually seen a 2 percent increase in starting offers, even during tough economic times.
This is not the worst dip in recent history: The recession of 2002 saw college hiring trends fall almost 36 percent, but eventually that number evened out as the economy improved.
OSU Career Services admits that companies that normally look to OSU graduates to hire have been unable to take on new employees at the same rate as previous years.
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