Job market improving for college seniors, national survey finds

As graduation day approaches, Rose Lunnemann can't help feeling a mix of elation and trepidation about her future.

The Southeast Missouri State University senior is on track to graduate next month with a degree in psychology. She's vying for a spot in the AmeriCorps program and has a job lined up with an agency serving the homeless in her hometown of St. Louis two weeks after graduation. But given the economy and funding cuts facing not-for-profits and government agencies, Lunnemann's position is only guaranteed through the summer. After that, she's back in a job market that's been rough going for the graduates who have preceded her in recent years.

"It's kind of scary," she said.

Things are looking up, however, for the class of 2011's job prospects, according to a recently released survey.

Employers say they will hire 19.3 percent more new college graduates this year than they did last year, the National Association of Colleges and Employers' job outlook survey of 174 organizations found.

The numbers keep moving up, a further sign that the U.S. economy is emerging from the hangover of one of the worst recessions in decades.

"This is the first time since 2007 that we've seen a double-digit increase in spring hiring projections," NACE executive director Marilyn Mackes said in a news release. "That's a good indication the job market for new college graduates is gaining momentum."

In spring 2010, hiring intention was 5.3 percent higher than in spring 2009, when respondents planned to cut college hiring by nearly 22 percent.

The latest survey shows hiring increases are expected across regions and in most industries. In particular, oil/gas extraction companies, chemical manufacturers, computer electronics manufacturers, and finance, insurance, and real estate employers report the most aggressive hiring plans, the survey found.

"The job market looks better for this class than it has in the past couple of years," said Mimi Collins, spokeswoman for association, "but they can't sit back and wait for an employer to come to them. That's a big mistake."

Collins' No. 1 job-search tip for college seniors is, get to your campus career center fast -- and often.

"And be flexible and open-minded about opportunity; be realistic about what's available," she said.

Warren Skinner, assistant director of Southeast Missouri State University's Career Linkages program, said graduating students have been nervous for some time about the job market, and many have opted to remain in school rather than brave the long job lines.

"As a student, a lot of them have a choice to try to make their way in the world, and a lot of them have continued their education in grad school," he said. "I think in the past year or so that has loosened up a little, and they're not quite as nervous. I've seen some graduates where it takes time to find a job, but they're getting them."

Lunnemann said she received plenty of advice from family and friends, urging her to consider enrolling in graduate school because the job market was so abysmal.

Late last year, the jobless rate for Americans with at least a bachelor's degree was 5.1 percent, much lower than the total unemployment rate north of 9 percent, but the highest rate for college grads since 1970, according to the Bureau of Labor Statistics. The rate eased in January to 4.2 percent, closer to historic normals for the category of employees.

Cape Girardeau County's jobless rate decreased in February to 7.9 percent, from 8.2 percent in January. Scott County also saw a drop in unemployment, going from 10.2 percent in January to 9.9 percent in February.

Skinner said new college graduates often benefit in distressed economic times, when employers looking to cut budgets fill layoffs first with entry-level positions.

"Not just this one but in all of the past recessions, what you're looking at is the higher-paid folks are one of the first to go," he said. "Now that there is a bit of recovery going on, they're wanting to replace those positions, and they're filling them with entry-level folks."

Martise Cohen, 23, is hopeful a job in his field awaits him after he graduates Southeast in May, but he isn't holding his breath.

"There aren't as many jobs as I'd like down here in the area," the management information systems major said. "I would like to stay close to Cape, just because I am thinking about grad school."

"The professors here are really good about trying to tell us about all the opportunities," he said.

The best-paying jobs for new graduates appear to be in the field of engineering. Four of the top five top-paid majors are engineering, all receiving salary offers in excess of $66,000, according to NACE's spring 2011 salary survey.

mkittle@semissourian.com

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