Graduates Brace For Worst Job Market In Years
In the coming weeks, college seniors across the country will get their caps and gowns, accept their diplomas and enter the worst job market in modern memory.
National figures indicate that employers may cut on-campus hiring by more than 20 percent compared to last year. Nevertheless, many job counselors and students remain surprisingly hopeful.
It's springtime, and students on the University of Pennsylvania campus are outside, enjoying the sun. But the seniors among them who are about to leave this place will find a cold, cruel world waiting for them.
Patricia Rose, director of career services at this Ivy League school, has been doing this work for decades, and she says this is — without question — the worst job market she's ever seen.
Rose says that ordinarily, Penn graduates leave with a bit of a halo around them, and are mobbed with job offers. Not this year.
Nurses Not Immune
"For example, our nurses are experiencing difficulty in finding jobs," Rose says in dismay. "This is the first time in my memory that a University of Pennsylvania nurse is having trouble finding a job."
Rose says people are putting off hospital procedures, so the need for nurses is dropping in some areas. At the same time, experienced nurses are putting off retirement.
Other areas that were gold mines for Penn grads have also been hit hard, such as financial services and business.
Look To Uncle Sam
What's a grad to do? Look for a government job, Rose says. The government has long been concerned about attracting young people to the public sector, and is still recruiting Penn students, she says.
For many students, the best advice may sound familiar to anyone struggling to find a job — try harder, make your resume stand out and send out more applications. That's what students are hearing a few miles from Penn, at Temple University.
Recently, the Temple career counseling center held a session for students who waited until April to start the job hunt. Students get counseling on how to present themselves to prospective employers, and how to be creative about turning their degree into a selling point.
Mary Claire Dismukes, of Temple's career center, says students at this event are definitely nervous. But they are not panicking. Dismukes is urging students to fine-tune their resumes, and take care to highlight their individual strengths.
Dismukes says students at this diverse, urban school have an obvious selling point: "Many Temple students work while going to school, so they have the ability to manage multiple tasks. They've already had significant responsibilities."
Starting At A Steakhouse
And those responsibilities could end up becoming a temporary career. Teresa Heilman, a biology major, may have to fall back on her current job at a local restaurant. "Sullivan's Steakhouse, in King of Prussia," she says proudly.
Heilman says she's made some good contacts through her waitressing job, and she's been sending out a lot of resumes to local pharmaceutical companies. She has not received any offers so far, but she says something is bound to turn up.
"It's scary. But I'm persistent. I'm sure my abilities will shine through eventually," Heilman says.
Thinking Beyond The Bottom Line
Despite the gloom, companies are hiring; they're just hiring fewer people. That means some employers can take their pick from among top performers.
Lisa Zhu started looking for work in her junior year at Penn. After doing an internship with McKinsey & Company, she got a job offer from the consulting firm.
"I actually didn't take the offer," she says. "I'm deferring for two years to do Teach for America."
That's right — even in this economy, some students are thinking about more than the bottom line. Teach for America reports record numbers of applications this year.
Zhu is going to teach at a Bronx high school for two years. She says that, "given President Obama's election and the popularity of public service, this is definitely something that is worth more to me than just the amount that the job pays."
When she's done teaching, the McKinsey job will be waiting for her.
Students are surprisingly upbeat, and there was little whining about their bad timing. One student said that if you're convinced you won't get a job, you probably won't.
9(MDAyNzUwMDI2MDEyNTA3MTU5NzcyNTQyNA004))
ROBERT SIEGEL, host:
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
MICHELE NORRIS, host:
And I'm Michele Norris.
In the coming weeks, college seniors across the country will get their caps and gowns, accept their diplomas, and enter the worst job market in modern memory.
National figures indicate employers may cut on-campus hiring by more than 20 percent compared to last year.
NPR's Larry Abramson reports from Philadelphia that many job counselors and students remain surprisingly hopeful because they have to.
Unidentified Woman: Improv comedy without (unintelligible).
Unidentified Man: (Unintelligible)
LARRY ABRAMSON: It's springtime, and students on the University of Pennsylvania campus are outside, enjoying the sun. But the seniors among them, who are about to leave this place, will find a cold, cruel world waiting for them.
Ms. PATRICIA ROSE (Director of Career Services, University of Pennsylvania): I've been doing this work for almost 30 years, and this is the worst economy I've seen.
ABRAMSON: Patricia Rose is director of career services at this Ivy League school. She says ordinarily, Penn graduates leave with a bit of a halo around them and are mobbed with job offers. Not this year.
Ms. ROSE: For example, our nurses are experiencing difficulty in finding jobs. This is the first time in my memory when a University of Pennsylvania nurse is having trouble finding a job.
ABRAMSON: Rose says people are putting off hospital procedures, so the need for nurses is dropping in some areas. At the same time, experienced nurses are putting off retirement. Other areas that were gold mines for Penn grads have also been hit hard, like financial services and business.
What's a grad to do? Look for a government job, says Patricia Rose.
Ms. ROSE: The government has been, for a couple of years now, been concerned about the pipeline of young people coming in to the federal government in particular, and they are very actively recruiting our students.
Unidentified Woman #2: And the resume and cover letter tab will provide you with information about what goes into a good resume or a good cover letter.
ABRAMSON: For many students, the best advice may sound familiar to anyone struggling to find a job: try harder, make your resume stand out, send out more applications. That's what students are hearing a few miles away from Penn, at Temple University. The career counseling center there is holding a session for students who have waited until April to start the job hunt.
Ms. MARY CLAIRE DISMUKES (Temple University): They're definitely - the students are sort of on edge. They are unsure about the job market. They're unsure about their plans.
ABRAMSON: Temple's Mary Claire Dismukes says students will definitely need to highlight their individual strengths. Students at this diverse, urban school have an obvious selling point, she says.
Ms. DISMUKES: Many of Temple students work while going to school. So they have an ability to manage multiple tasks, as well as they've already had significant responsibilities.
ABRAMSON: And those responsibilities could end up becoming a temporary career. Teresa Heilman, a biology major, may have to fall back on her current job at a local restaurant.
Ms. TERESA HEILMAN (Student, Temple University): Sullivan's Steakhouse, in King of Prussia. Have you been there?
ABRAMSON: Actually, I haven't. But Heilman assures me it's very good. Heilman says she's actually made some good contacts through her waitressing job. She's been sending out a lot of resumes to local pharmaceutical companies. No offers so far, but she says something's bound to turn up.
Ms. HEILMAN: It's scary, but I'm persistent. I'm sure my abilities will shine through eventually.
ABRAMSON: It's important to note that companies are hiring. They're just hiring fewer people, and they can choose from among the top performers, students like Lisa Zhu, who started looking for work in her junior year at Penn. After doing an internship with McKinsey & Company, she got a job offer from the firm.
Ms. LISA ZHU: (Student, University of Pennsylvania): I actually didn't take the offer. I'm deferring for two years to actually do Teach for America.
ABRAMSON: That's right. Even in this economy, some students are thinking about more than the bottom line. Lisa Zhu is going to teach in a Bronx high school for two years.
Ms. ZHU: Given President Obama's election and a lot of the popularity of public service, you know, this is definitely something that is worth more to me than just the amount that the job pays.
ABRAMSON: When she's done teaching, the McKinsey job will be waiting for her. In fact, Teach for America reports a record number of applications this year.
Students I spoke with are surprisingly upbeat, and there was little whining about their bad timing. One student told me, if you're convinced you can't get a job, you probably won't.
Larry Abramson, NPR News. Transcript provided by NPR, Copyright National Public Radio.
