Job outlook for college grads isn't so bad

Friday, July 25, 2008

 - Jo Hoffmeier

The month of June marked a very important milestone for college seniors, and this summer more than a million college graduates will enter the job market. Despite the downturn in the economy, the job outlook for college graduates still remains positive for 2008. According to the National Association of Colleges and Employers (NACE), surveyed employers reported that many are looking to hire recent college graduates. It is expected that 16 percent more college graduates than last year are looking to be hired for entry level positions.

The industries graduates will enter this year are changing, as is the face of the economy and the global job market. With the recent losses in the housing industry, changes in lending practices, the eco-friendly movement, and ongoing technological advances, graduates are faced with a very different job landscape from previous years. According to current reports, some of the fastest growing job industries include health care, computer sciences, social services, accounting and finance. These job sectors are expected to grow by more than 20 percent in the next decade, followed by education at 14 percent. In addition, retiring baby boomers are creating new openings for recent graduates as they near retirement and leave the work force. With a majority of baby boomers leaving the job market, this not only creates a high demand for employers to replace those individuals, but it also creates a greater demand for a variety of health care service positions. According to the Bureau of Labor Statistics, health care jobs, such as home health aides and assistant nurses, will increase dramatically to care for the aging population.

Employers are increasing the number of hires as well as increasing salaries for entry level positions. According to NACE, the average starting salary offer is 4 percent higher for 2008 graduates than last year's alumni. Not only is the job outlook for recent college graduates positive, but employers are showing interest in graduates from all sectors. Employers recognize that students from all majors have the ability to be trained and therefore will seek those students who possess strong communication skills, knowledge of new technology, and have past work or internship experience.

This year offers some unique and exciting job opportunities for this year's graduating class. On the whole, the work force is retiring and re-prioritizing, becoming more technology oriented, and less dependent on agriculture and manufacturing industries. Given that the face of the work force as we know it is evolving, graduates will have additional positions to choose from in several different industries, and as a result will cause a greater sense of competition than past years. The class of 2008 is the work force of tomorrow and it is these graduates who will lead us to the groundbreaking inventions and technologies of the 21st century.

Jo Hoffmeier is the Northern California territory vice president of the University of Phoenix.