Posted by: Thomas Gillick
Graduates beware; the job market might not be as promising as you have thought. Earlier last year there was reports that there would be 6.1% more jobs this year for graduates then last year but recently that number has declined to 1.3%. This is the worst job outlook in six years. The main reason for this is probably the recent struggles in the financial markets. Also some companies have fallen bankrupt and many other companies plan on hiring less graduates then they predicted. For example Insurer Progressive Corp. expected to hire at least 3,000 graduates but due to recent financial troubles that number has gone down to fewer then 1,000. Even G.E. is hiring less graduates and M.B.A. graduates for full-time positions. Thinking that companies are hiring less and less is worse enough, there are projected to be more graduates this year then last year. That means while jobs are barely increasing more and more qualified candidates will be looking for job placement. Also there is a likely chance that salaries are also going to be decreasing. The good news is that not all fields are on the downfall. There still seems to be demand in the fields of accounting, public service, health care, education and technology.
Sources:
http://finance.yahoo.com/college-education/article/106007/For-%2709-Grads,-Job-Prospects-Take-a-Dive
http://finance.yahoo.com/college-education/article/105779/B-Schools-Wary-on-Lehman,-Merrill-Impact
http://finance.yahoo.com/college-education
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