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Uncertain Economy: Helping Students Job
Search
Chuck HancockRenée Welch
Presentation Outline
• Big Picture– Overall economy– College Recruiting
• What we see at the Career Center• How to help your students
Overview of Economy
• What are your perceptions of the current state of the economy for job searchers?
• What are you hearing from your students?
Current Economy
Current Economy - UnemploymentNational Unemployment Rate 6.7%Colorado Ranked 23rd - 5.8% Nov 2008
UNEMPLOYMENT PERCENT DISTRIBUTION
Total unemployed 100Job losers and persons who completed temporary jobs 58.4Job leavers 9Reentrants 25.3New entrants 7.3
Source: Bureau of Labor Statistics - November 2008* Does not reflect underemployment
College Hiring
Source: Recruiting Trends 2008-2009, prepared by The Collegiate Employment Research Institute (CERI) and The MSU Career Services Network
College Hiring
Source: Recruiting Trends 2008-2009, prepared by The Collegiate Employment Research Institute (CERI) and The MSU Career Services Network
•More small companies (< 500) plan to increase hiring (33%) than large companies (24%)
College Hiring
Unemployment by educational attainment age > 25 years < High School Diploma 10.5%HS Diploma, No College 6.8%Some College or Associate Degree 5.5%Bachelor’s degree or higher 3.1%Source: Bureau of Labor Statistics - November 2008
College Hiring
Source: Recruiting Trends 2008-2009, prepared by The Collegiate Employment Research Institute (CERI) and The MSU Career Services Network
What we’ve seen
Fall '07 Spring '08 Fall '08 Projected Spring '090
50
100
150
200
250
300
Number of Participants in Career Fair
Main Career Fair
Engineering Career Fair
Ag/NR Career Fair
Month/Year
Amou
nt o
f Par
ticip
ants
What we’ve seen
January
Febru
rary
March
AprilMay
JuneJuly
August
Septem
ber
October
November
December
0
200
400
600
800
1000
1200
Number of Job Postings Over Past 3 Years
2006
2007
2008
Month
Num
ber o
f Job
Pos
tings
What we’ve seen
Fall 2006 Fall 2007 Fall 20080
200
400
600
800
1000
1200
1400
1600
# of Students Seen for Selected Career Center Services
Resume HelpJob SearchInternship SearchGrad School
Years
Num
ber o
f Stu
dent
s See
n
CSU Dec. 2008 Graduation Survey Results Compared to May 2008
College % Change Employment % Change Grad School
Natural Science -5.15 -20.88
Liberal Arts -8.61 -14.38
Engineering 10 -11
Natural Resources 0.09 -25.01
Vet. Med. Biomed. Sci. -15.15 -11.6
Applied Human Sci. 5.73 -16.5
Agriculture 7.48 -3.52
Business -32.97 -4.9
* Survey results as of 1/1/09. Not complete.
Forecasting Length of RecessionOther (somewhat recent) recessions
• Average recession length since WWII - 10.4 months• 1990-91 and 2001 both short• 1981-82 lasted 16 months and peaked at 10.8% unemployment• 1973-75 lasted 16 months and peaked at 9% unemployment• Great Depression 1930-32 (43 months) 25% unemployment• Current recession is 13 months old, not approaching the trough yet
“Another 2.5 million jobs will be lost in 2009,” says John Stapleford, an economist with Economy.com. That is on top of 1.9 million jobs lost in the first 11 months of 2008. (Preliminary figures for the full year will be published Friday.)
Where does the money go?
Less Impacted Industries/CareersEducationEnergyHeath CareInternational BusinessEnvironmentalSecuritySalesIT - Software Design & Development, Networking, Systems AdministrationNursingAccountingBusiness Analyst
Under Obama’s Administration• Initiative: Construction of roads, bridges, transit and rural broadband
1. Construction managers2. Project managers3. Civil engineers4. Computer-aided drafting specialists5. Telecommunications engineers
• Initiative: Greater oversight of financial markets1. Compliance accountants2. Internal auditors3. Tax accountants4. Government regulators
• Initiative: Energy independence1. Electrical engineers2. Mechanical engineers3. Power grid managers4. Biofuels chemists5. Sales and marketing
• Initiative: Healthcare modernization1. Nurses2. Information technology specialists3. Bioinformatics specialists4. Information security specialists5. Software developers
• Initiative: Volunteerism and community involvement1. Social workers2. Administrators3. Translators
• Source: Jobfox
Big Picture Trends
• Daniel Pink’s 3 As– Asia
• Harvard Business School Study – 21-42% (28.4 to 57.2 million) US jobs potentially ‘offshorable’
– Abundance– Automation
How to help your students• Be open• Understand you may not obtain the perfect
position right away• Explore options beyond your major• Think and innovate• Get out and meet people• Work with friends• Use Facebook and LinkedIn
How to help your students
• Don’t solely rely on job boards• Create a focused resume• Meet people• Set yourself apart• Get engaged if you experience a gap in
employment• Meet with a career counselor
Career Center Services
• Student Fee Funded• Counseling and walk-ins• CareerRAM• Career Shift• Optimal Resume, Interview, Letter– Optimal Impression
• Career Interviews• Career Fairs
Career Center Services
• New Location: Lower Level LSC• Phone: 491-5707• Walk-Ins: LSC 116• www.career.colostate.edu
