A survey of 900 American employers suggests that employers around the country expect to hire 10 percent more entry level workers this year as compared to last year. The news is giving college graduates a reason to be more optimistic about job prospects than they have been during the past few years. College graduates have been experiencing about double the national unemployment rate since the recession began, and less than half have been able to obtain employment in their chosen fields.
Northeastern University economist Andrew Sum cautioned that similar optimism fueled college graduates’ hopes last spring. Many graduates were still disappointed, however, by the lack of an overall increase in hiring. Sum agrees that this year will likely be better, but warned that certain majors will probably be more successful than others. For example, accounting, computer science and engineering majors have been faring the best. Communications and marketing companies were also more willing to hire recent graduates thanks to an increase in internet spending.
In addition, because there are still more recent grads than there are job openings, recent college graduates face a buyer’s market, which generally means lower wages and poorer working conditions.
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