College Graduates Likely to Face Long Job Hunt
From the Wall Street Journal:
Although on-campus recruiting has increased this year, most members of the class of 2012 will graduate without a job in hand. A study by the Heldrich Center for Workforce Development at Rutgers University found that only 49% of graduates from the classes of 2009-2011 procured full-time employment one year after graduation. In the three previous years, 73% of graduates had found full-time employment in the same amount of time.
There are four main factors contributing to recent graduate struggles:
1) The job market, though improving, is still not as strong as it was before the recession.
2) Members of the class of 2012 have to deal with “the recession hangover.” That is, increased competition from members of previous graduating classes who have also not procured employment and who have more work experience.
3) Debt burden. More students are graduating with more debt and thus will have to delay financial independence.
4) Even when recent grads do get jobs, they tend to pay lower than in previous years.
Read more at the Wall Street Journal: http://online.wsj.com/article/SB10001424052702304020104577384410323391198.html?google_editors_picks=true