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06-06-2003, 10:29 PM
SOURCE : http://www.pittsburghlive.com/x/tribune-review/regional/s_130122.html
Grads face worst job market in a decade
By Bill Zlatos
TRIBUNE-REVIEW
Justin Rubb thought he had it made.
He graduated in December from the University of Pittsburgh with a bachelor's degree in the traditionally lucrative field of chemical engineering. He had worked five semesters for Bayer Corp.
But the economy sank lower. Bayer couldn't offer him a job as expected, and he landed only two job interviews after sending out 50 resumes.
"Up until graduation, I was worried that I was not going to get a job," said Rubb, 22, of Glen Rock, York County. "It's hard to send out that many resumes, send out e-mails and have people not get back with you."
Rubb found out what graduates from colleges here and around the country are learning this spring. This may mark the toughest job market in a decade.
The big culprit, of course, is the economy. Not only are companies less able to hire graduates, but current employees whose 401(k) investments tumbled have postponed retirement, making fewer positions available.
"Things are going to remain dismal, unfortunately, but it's not getting worse," said Camille Luckenbaugh, employment information manager for the National Association of Colleges and Employers. The group, based in Bethlehem, Northhampton County, conducts a national survey on the job market for graduates.
The poll shows that many of this year's graduates will not do as well as alumni last year.
Computer scientists will see their starting salaries decline for the sixth straight quarter to $46,536, Luckenbaugh said. Graduates in management information systems will take a 5 percent decrease to $41,543.
Engineers will do about the same as last year. And business majors will enjoy small increases ranging from 1.3 to 3.7 percent, depending on their field.
CLICK ON ABOVE LINK FOR THE REST
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QUESTION : Will we ever return to the good unemployment numbers just 5 years ago ? Or is this going to be chronic due to increased foreign competition ?
Grads face worst job market in a decade
By Bill Zlatos
TRIBUNE-REVIEW
Justin Rubb thought he had it made.
He graduated in December from the University of Pittsburgh with a bachelor's degree in the traditionally lucrative field of chemical engineering. He had worked five semesters for Bayer Corp.
But the economy sank lower. Bayer couldn't offer him a job as expected, and he landed only two job interviews after sending out 50 resumes.
"Up until graduation, I was worried that I was not going to get a job," said Rubb, 22, of Glen Rock, York County. "It's hard to send out that many resumes, send out e-mails and have people not get back with you."
Rubb found out what graduates from colleges here and around the country are learning this spring. This may mark the toughest job market in a decade.
The big culprit, of course, is the economy. Not only are companies less able to hire graduates, but current employees whose 401(k) investments tumbled have postponed retirement, making fewer positions available.
"Things are going to remain dismal, unfortunately, but it's not getting worse," said Camille Luckenbaugh, employment information manager for the National Association of Colleges and Employers. The group, based in Bethlehem, Northhampton County, conducts a national survey on the job market for graduates.
The poll shows that many of this year's graduates will not do as well as alumni last year.
Computer scientists will see their starting salaries decline for the sixth straight quarter to $46,536, Luckenbaugh said. Graduates in management information systems will take a 5 percent decrease to $41,543.
Engineers will do about the same as last year. And business majors will enjoy small increases ranging from 1.3 to 3.7 percent, depending on their field.
CLICK ON ABOVE LINK FOR THE REST
====================================
QUESTION : Will we ever return to the good unemployment numbers just 5 years ago ? Or is this going to be chronic due to increased foreign competition ?