New College Graduates: Ten things you need to know about the current job market

The past weeks I have been booked solid with seniors getting ready to graduate and start their job search. The common theme with every college student is their fear of the current job market. They know there is an uncertainty in the job market and they are truly scared. If you know of a college student getting ready to graduate here is some helpful information.

NACE (National Association for College and Universities), the organization that brings college career counselors and employers together has issued a report regarding the economic indicators for the class of 2011. Although the report represents statistics, that on the surface appear encouraging, let’s not forget we are just coming out of a nearly three long year recession with some of the lowest unemployment rates since the depression.

Learn how to read the labor market statistics so they make sense to you

1. Growth rates-what does it mean? When reading employment statistics about employment growth keep in mind the following: 3% is low growth; 7-10% is medium growth; 10-15% growth is high and anything over a 20% growth rate is extremely high.

2. There are two statistics: When looking at percentages of growth rate, also read the number of job openings expected.

a. If the number of jobs is high and the percentage is medium to high, that indicates real employment potential.

b. If the numbers are in opposition (high percentage, low numbers then you need to be extremely good and have great experience to be successful in that field).

c. If the numbers are high, but the percentage is low there it could mean a high turnover rate in a stable industry.

3. The U.S. workforce modestly improved this past February with an addition of 192,000 more jobs according to a report released by the Bureau of Labor Market Statistics (http://www.bls.gov/). Job seekers will want to go to this site to check out what occupational fields these jobs fall in. Outlook for new college graduates

4. On campus recruitment at career fairs has increased 47%. This is as good as it gets. More employers, coming to college campuses to recruit, means more jobs for college graduates and internships for underclassmen.

5. Outlook: The good news for new college graduates: 53% of employers recently surveyed through NACE intend to hire more college graduates from the class of 2011. This is a slight increase from last year. A little uptick, but still good news.

6. Over all salaries for new graduates has increase across the board. Be cautioned these increased salaries are countered with fewer offers in a given occupational field.

7. Know who’s hiring. Despite improved hiring statistics for new college graduates in large companies (4000+) and small companies (< 500), medium sized (500-3999) companies are flat or declining Advice for new college graduates

8. Be proactive. Seniors and Graduate students getting ready to graduate must be more proactive in their job searches. Resumes and cover letters must relate to the job descriptions.

9. Diversify your job search. Everyone wants to go for the “dream job.” However, pick apart that skills and responsibilities of the dream job. On your first try out be realistic about the fact you may find a job that has only pieces of the dream job. Don’t be afraid of taking that type of job if it will allow you develop or become more competent in a skill set for the next job that may move you closer to that dream job.

10. Just do it. Start applying for jobs. Use every resource at your fingertips and within your social and educational network. Last week a very fearful student came to me with good news, she found her ideal job. For two years she attended every workshop, interview session, panel discussion we offered. It paid off.

Online Resources http://www.bls.gov/ Bureau of Labor Statistics http://www.naceweb.org/home.aspx National Association for College and Universities http://www.ceri.msu.edu/wp-content/uploads/2010/11/2010-11%20RT.pdf Recruiting Trends Survey, Michigan State

How Do You Heal a Community From Job Loss?

Recent events in Madison, Wisconsin have placed many people in a rare and indefinable place. It feels a lot like a job loss, but you still have a job to wake up and go to work each day. What happens when what you know to be true about your ability to negotiate your future goes away? If you are state employee you could be feeling the same things people feel when they lose their jobs, here is some advice to help you stay motivated and employed.

1. Keep working. Don’t quit your job. Don’t make any major decisions about your job or situation for the next year. Adjust the best you can to your new situation. Observe what is happening around you. With one exception, if you were planning on retiring within the next few years, explore that option this year.

2. Reconnect with the reasons you like your job. Review what you do well and keep doing it. Identify those things you dread doing and minimize their impact on your other work. Talk with your supervisor to discuss how your responsibilities may change should there be is a “trickling down effect.” Ask how you can work smarter and more efficiently in your job.

3. Do recognize that all of us live and work in a tenuous society. Be ready for the future, whatever it is. Brush off that resume. Put together a collection of job descriptions that you like. Essentially, do a dry-run job search. There will be changes around you. Be ready for the next opportunity.

4. Compartmentalize roles and responsibilities. Manage emotions. Anytime there is a shift in how you spend your income, conflict ensues. The best line of logic I have heard is: “This is what it is. Now we go to the next phase of our lives, sometimes you cannot change what is happening, only how you manage your reactions.”