Job market slows down

Many college students know the apprehension associated with making a career choice, but concern is growing among those who have invested the time, effort and money to earn a degree. The economic downturn since the Sept. 11 terrorist attacks has created a smaller market of employers actively seeking employees, and some college graduates are finding alternatives to immediate employment.\n"What affects the job market is the economy," said Professor C. Randall Powell, director of the Business Placement Office at the Kelley School of Business. "It has been slowing since March, but things are picking up right now."\nThe Dow Jones Industrial average fell 7.12 percent on Sept. 11, but the index had been sharply declining prior to the terrorist attacks.\nThe failure of many Internet-based companies combined with the attacks has impacted the job market, Powell said.\nThe BPO helps students find employment by bringing employers to campus who can provide valuable jobs for students. Since last March, there has been a 20 percent drop in the number of companies that came to hire new employees, Powell said. Some of the companies that are still coming might not be hiring as many students as they have in the past.\n"Many companies are still coming here, but what they'll do is drop some of their other schools to get to the schools they prefer," he said.\nFor many businesses, IU is one of those preferred schools, Powell said.\nLocal employment agencies have noticed the decline as well. \n"There is a slower job market," said Jeff Huston of Kelly Services, a Bloomington business that provides both temporary and permanent employment for its clients. "It reduces the opportunity for business to hire and for us to do what we do." \nMany graduates are finding new and creative ways to deal with these setbacks.\n"I see people getting more education or working in fields outside their study," Huston said.\nPowell said he has also noticed the trend.\n"About 60 to 70 percent accept jobs, many others are delaying graduation dates or considering a second major," he said.\nMany IU graduate schools have reported an increased number of applications.\nTim Martin, Graduate Admissions Coordinator of the Law School admissions office said the number of applications has been increasing for years and that the most recent increases are in line with the trend.\n"I wouldn't necessarily attribute it (more applications) to the tragedies of Sept. 11, it's part of a continuing trend for the past three or four years," he said.\nGiven recent indicators, students will not have to wait out the hard times for much longer, Powell said.\n"We were just in an overheated economy. It had a short-term effect and it had a deep effect. But as the stocks began to climb, we started to see employers coming back," Powell said. "It hasn't been what I would call a disaster. There are still companies recruiting and there are still students getting jobs"