As graduation approaches, UA seniors must begin their journeys into the real world, which includes finding real jobs. The good news for students is that the recession has officially been pronounced over.
Less then four years ago, the United States economy entered into what is now known as the Great Recession, and the job market plummeted. For the past few years, graduating seniors across the country have had to enter into a job market that is extremely competitive as well as brutally slim.
“The job market is improving, although at a slower pace than desired by most people,” said Samuel Addy, director and research economist for the University’s Center for Business and Economic Research. “The truth is that rebuilding the economy will take time. The Great Recession took a long time to hit us and when it did, it was fast and rough.”
Addy explained that the job market is much more favorable toward degree holders. The unemployment rates posted by the Bureau of Labor Statistics correspond with Addy’s assessment. Statistics show that the job market is much more available to people who have earned a bachelor’s degree or higher rather than others competing in the job market.
According to the Bureau of Labor Statistics’ March 2011 Employment Situation report, there have been significant job gains in professional and business services, health care, leisure and hospitality, mining and manufacturing.
With the slightly improved economy, the class of 2011 may have a better chance of finding a job after graduation next week.
“They have a much better chance [of getting hired right out of college] than the students who graduated in 2008, 2009 and 2010,” said Ahmad Ijaz, an economic analyst with the University’s Center for Business and Economic Research. “The U.S. went through the deepest and the longest recession since the Great Depression and almost 8 to 9 million people are currently unemployed. It takes a while for employment to get back to the pre-recession levels.”
Ijaz went on to explain that, although the class of 2011 will have a better chance of being hired out of college, not everyone will be hired into the career of their choice. Some graduates may find themselves in a profession that they had not originally planned on and may want to head in alternative directions for the time being, he said.
“Right now, with the way the labor markets are, graduate school might be the best option,” Ijaz said. “The next best option will be to get a part-time job, which sometimes can work into full-time jobs.”
Along with a higher possibility of getting hired right out of college, the class of 2011 will also have the potential to receive higher pay than graduates from the last few years received when they started out in their careers.
According to a survey conducted by the National Association of Colleges and Employers, students graduating with the class of 2011 will be awarded salaries 3.5 percent higher then the graduates of 2010. The NACE also listed the top five qualities that employers are looking for: verbal communication, strong work ethic, teamwork skills, analytical skills and initiative.
Within the state of Alabama, job seekers will find the unemployment rate is staying consistent.
“In March, there were somewhere around 195,000 people unemployed in Alabama,” said Tonya Lee, Statistician Supervisor for the Bureau of Labor Statistics. “Last year there were 215,000 people unemployed for the month of March, which is basically about 20,000 less people unemployed. I don’t see our unemployment rate going down really quickly. It is more of a slow and steady decrease.”
She said the unemployment rate remains pretty steady at 9.2 percent, increasing or decreasing a tenth here and there.
When looking for a job in today’s market there are several steps the graduates of 2011 will want to take.
“First, visit the Bureau of Labor Statistics’ website,” Addy said. “They produce a report on occupational projections which is a guide to where the opportunities are. Second, think career, not just jobs, and allow for flexibility. Third, and most important, don’t stop learning. There’s a lot to learn over one’s career and we progress only by continuing to learn and applying the knowledge. Finally, be nice to the people you meet on your way up and always do your best.”
the Bureau of Labor Statistics correspond with Addy’s assessment. Statistics show that the job market is much more available to people who have earned a bachelor’s degree or higher rather than others competing in the job market.
According to the Bureau of Labor Statistics’ March 2011 Employment Situation report, there have been significant job gains in professional and business services, health care, leisure and hospitality, mining and manufacturing.
With the slightly improved economy, the class of 2011 may have a better chance of finding a job after graduation next week.
“They have a much better chance [of getting hired right out of college] than the students who graduated in 2008, 2009 and 2010,” said Ahmad Ijaz, an economic analyst with the University’s Center for Business and Economic Research. “The U.S. went through the deepest and the longest recession since the Great Depression and almost 8 to 9 million people are currently unemployed. It takes a while for employment to get back to the pre-recession levels.”
Ijaz went on to explain that, although the class of 2011 will have a better chance of being hired out of college, not everyone will be hired into the career of their choice. Some graduates may find themselves in a profession that they had not originally planned on and may want to head in alternative directions for the time being, he said.
“Right now, with the way the labor markets are, graduate school might be the best option,” Ijaz said. “The next best option will be to get a part-time job, which sometimes can work into full-time jobs.”
Along with a higher possibility of getting hired right out of college, the class of 2011 will also have the potential to receive higher pay than graduates from the last few years received when they started out in their careers.
According to a survey conducted by the National Association of Colleges and Employers, students graduating with the class of 2011 will be awarded salaries 3.5 percent higher then the graduates of 2010. The NACE also listed the top five qualities that employers are looking for: verbal communication, strong work ethic, teamwork skills, analytical skills and initiative.
Within the state of Alabama, job seekers will find the unemployment rate is staying consistent.
“In March, there were somewhere around 195,000 people unemployed in Alabama,” said Tonya Lee, Statistician Supervisor for the Bureau of Labor Statistics. “Last year there were 215,000 people unemployed for the month of March, which is basically about 20,000 less people unemployed. I don’t see our unemployment rate going down really quickly. It is more of a slow and steady decrease.”
She said the unemployment rate remains pretty steady at 9.2 percent, increasing or decreasing a tenth here and there.
When looking for a job in today’s market there are several steps the graduates of 2011 will want to take.
“First, visit the Bureau of Labor Statistics’ website,” Addy said. “They produce a report on occupational projections which is a guide to where the opportunities are. Second, think career, not just jobs, and allow for flexibility. Third, and most important, don’t stop learning. There’s a lot to learn over one’s career and we progress only by continuing to learn and applying the knowledge. Finally, be nice to the people you meet on your way up and always do your best.”