2008 Woodie Awards
Upcoming graduates anticipate unsteady economy, job market
Mia Walters
Issue date: 4/11/08 Section: News
With 232,000 American jobs already cut this year, college students graduating this spring will face a highly competitive job market, economics and finance chair David Brasfield said.
The unemployment rate in the United States is 5.1 percent, the lowest since the wake of hurricane Katrina, according to the U.S. Department of Labor.
Talk of a recession has been looming, Brasfield said. "College graduates should be worried," Brasfield said. "Typically during a recession that first job is hard to come by."
A recession is defined as a six-month decline in the production of goods and services of an economy or the gross domestic product, Brasfield said.
This usually occurs every five-10 years in a business cycle. Sufficient economic data is accumulated by July to officially confirm what is already suspected, Brasfield said.
While a recession has an impact on the entire job market, the financial services industry has been most affected.
"It's basically a white-collar recession," he said
Education is another area that sees change during a recession, Brasfield said.
"College graduates are more likely to pursue a masters degree to make themselves more sellable," he said.
"Also, more high school graduates will go to college because ... fewer blue-collar jobs available."
In order to become a more viable competitor in a recessive job market, there are a few tactics that current college students can employ, Brasfield said.
"Definitely look for internship, because they often lead to jobs," he said.
"Work closely with career services too. I mean, there are jobs available, and you want to do everything you can to build yourself up."
Senior LeeAnna Green, an accounting major from Mayfield, Ky., said she has noticed the pressure of the economy on her peers."
"My class is definitely concerned," she said. "We're hearing stories from our friends who have already graduated and are having serious problems finding a job."
Green said she started her job search early and was offered full-time employment at a company where she interned. This one of several proactive methods she used.
"Employers like to see a personality along with the grades, so I just wanted to make sure that showed up on my resume."
Brasfield said some majors, like accounting, are in greater demand than others.
"If you can gear your own major toward those (in demand) you can increase your chances of getting hired - like a sociology major going into marketing," he said.
Brasfield advises students to tailor their majors to successful jobs.
Said Brasfield: "You want to look at those industries with demand and get on a track towards them."
Mia Walters can be reached mia.walters@murraystate.edu.
The unemployment rate in the United States is 5.1 percent, the lowest since the wake of hurricane Katrina, according to the U.S. Department of Labor.
Talk of a recession has been looming, Brasfield said. "College graduates should be worried," Brasfield said. "Typically during a recession that first job is hard to come by."
A recession is defined as a six-month decline in the production of goods and services of an economy or the gross domestic product, Brasfield said.
This usually occurs every five-10 years in a business cycle. Sufficient economic data is accumulated by July to officially confirm what is already suspected, Brasfield said.
While a recession has an impact on the entire job market, the financial services industry has been most affected.
"It's basically a white-collar recession," he said
Education is another area that sees change during a recession, Brasfield said.
"College graduates are more likely to pursue a masters degree to make themselves more sellable," he said.
"Also, more high school graduates will go to college because ... fewer blue-collar jobs available."
In order to become a more viable competitor in a recessive job market, there are a few tactics that current college students can employ, Brasfield said.
"Definitely look for internship, because they often lead to jobs," he said.
"Work closely with career services too. I mean, there are jobs available, and you want to do everything you can to build yourself up."
Senior LeeAnna Green, an accounting major from Mayfield, Ky., said she has noticed the pressure of the economy on her peers."
"My class is definitely concerned," she said. "We're hearing stories from our friends who have already graduated and are having serious problems finding a job."
Green said she started her job search early and was offered full-time employment at a company where she interned. This one of several proactive methods she used.
"Employers like to see a personality along with the grades, so I just wanted to make sure that showed up on my resume."
Brasfield said some majors, like accounting, are in greater demand than others.
"If you can gear your own major toward those (in demand) you can increase your chances of getting hired - like a sociology major going into marketing," he said.
Brasfield advises students to tailor their majors to successful jobs.
Said Brasfield: "You want to look at those industries with demand and get on a track towards them."
Mia Walters can be reached mia.walters@murraystate.edu.
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