Career Services: jobs still available despite economy

Students might be worried that a job won’t be waiting for them after they graduate, but IU officials say with proper career planning during college, they have little cause for concern.

The national unemployment rate is at 5.5 percent, a .9 percent increase from last year, according to the U.S. Department of Labor. But Kelley School of Business Undergraduate Career Services has only seen a slight decline in full-time job acceptances last year for business students who use their services, said Mark Brostoff, associate director of Undergraduate Career Services. He also noted a 4 percent increase in internship acceptances. He said despite the “softening economy,” companies still seek to hire college graduates.

“Companies have recognized that although there is a slowdown, there’s still a lot of work to do,” Brostoff said. “There are strong industries still out in the economy, and (college students) have more opportunities than others.”

Throughout this year, the U.S. economy has lost 50,000 to 100,000 jobs a month at a time when 150,000 jobs a month need to be added for a stable economy, said Bruce Jaffee, professor and chairman of IU’s Department of Business Economics and Public Policy. 

Jaffee said the current housing crisis lowers the amount of money consumers have because people’s homes make up the majority of their wealth. He said the housing problem, along with the rising cost of gas and food, causes consumers to spend less money. This causes a decrease in demand for companies’ products, thus forcing companies to hire fewer people, Jaffee said.

However, despite the weakening economy, Jaffee said IU graduates should not have much to fear if they prepare themselves properly.

“We’re at a weak point, but it does happen,” he said. “Ups and downs occur with regularity. They ought to be aware that, nationally, it’s going to be a tough market.”
Jaffee also said the recent increases to the federal minimum wage affects those in the working class more so than college graduates.

“It hurts city employment, but college grads are not getting a job that pays $6.55 an hour,” he said.

Career Development Center Director Pat Donahue noted that 82 percent of students in the College of Arts and Sciences who use his center’s services found work last year. He said some areas have more opportunities than others. Fields that currently have a high chance of employability include life sciences, federal government, health care and information technology.

Whatever their majors are, Donahue said students need to be assertive in their career planning and seek part-time jobs, internships and volunteer opportunities in their fields. He suggested that students be flexible in what jobs they want and where they want to live. Students should start their career planning during their freshman year, Donahue added.

“Majors do not matter that much,” he said. “Getting experience and getting involved is important.”

Junior Krestina Johnson is considering applying for medical school after she graduates, but she said she is concerned with job security. However, she said she is willing to do what it takes to get a job, even if it means moving to a different state.

“You have to try everywhere,” she said. “If you get a job anywhere, you might as well go.”

Students can also stay in school longer to obtain a higher degree in their field, Donahue said. He predicts an increase of students applying for graduate school because of the lack of job security.

Senior Nick Garcia, who is going into the life sciences, said he never really had time to think about his future job options. But because of current economic trends, he said he is considering going to graduate school.

“It’s just six more years that I don’t have to be a productive member of the economy,” he said.

Donahue said there is no guarantee that students will get a job after they graduate, no matter how much planning they do. However, he said, college students should be active and take job opportunities instead of just waiting for them.

“It’s a two-way street,” Donahue said. “There’s a lot that the student has to do.”