Improving Employment Market Leaves New College Grads Out in the Cold

There are numerous indications that the overall job market is improving. According to Indeed.com, a company that tracks job postings nationwide, 2010 saw an 88% overall uptick in listings over 2009. Some fields fared better than others: after significant declines in recent years, information technology listings in 2010 were up by 82% over 2009, and listings in the media rose by a similar percentage. Over 700,000 positions were advertised in health care in 2010. This positive trend is likely to continue in 2011. Michigan State’s Recruiting Trends, 2010-11 reports that employers of bachelors’ degree grads predict 10% more hiring this year.

But the good news in some quarters is tempered by troubling unemployment statistics for new college graduates. Data from the Bureau of Labor Statistics shows that while the increase in job opportunities has led to a flattening or slight decline in unemployment rates for most job seekers, the unemployment rate for new bachelors’ degree grads jumped from 7.9% in December, 2009 to 9.6% in December, 2010. Getting onto the career ladder has never been harder for this group.

It would be natural to assume that college careers offices would be overwhelmed by demand from anxious students. Yet, according to the NACE 2009-10 Career Services Benchmark Survey, 25% fewer students sought help than in the previous year. Even as loan repayment dates loom, many young people are placing all their faith in a better economy, without acknowledging the pent up demand for jobs from their slightly more advanced peers.

It may be difficult to find the perfect job, but it is by no means impossible. The 90.4% of employed college grads under 25 clearly did something right. What separates many employed graduates from their peers is the following:

  • They used all the resources at their disposal–including career centers, faculty, alumni, and relatives. And, they committed to putting in the time and energy required for a successful job search.
  • They explained what work they wanted to do with passion and thoughtfulness to anyone who would listen, and asked for advice and help. Many of them leaned on mentors and learned from their wisdom. Then they took action.
  • They made sure employers did not have easy reasons to reject them. Their resumes were well formatted without errors, and their communications were professional.
  • They were able, both in writing and in person, to communicate how they could add value to an employer. And, they were able to point to examples of success and competence. They modified their communications based on their company research and the job description of the open position.
  • They paid attention to the “gatekeepers” in human resources and in reception areas, treating them with respect.
  • They went beyond the usual job boards to seek out opportunities on employer websites. They mined LinkedIn to get insider information on company expectations and culture.
  • They built an online presence, through a personal website, blog, or social media, so that potential employers could find them.
  • They did not apply for any position for which they could not summon the energy to write a personal cover letter or do company research.
  • They started preparing for the job search long before they submitted their first application, building skills and experience that they knew would be useful.
  • They never took rejection personally, or used it as an excuse to give up the job search.
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