Those students who delayed graduation because of a tough job market might want to wait it out a bit longer.
That’s because, according to a report released by Michigan State University’s Collegiate Employment Research Institute Monday, those job prospects aren’t coming back anytime soon .
The study, called “Recruiting Trends 2009-2010,” was a collaboration of survey results from more than 1,800 employers for jobs that tend to hire students that have completed either undergraduate or graduate degrees, according to the Chronicle of Higher Education. It found the 2010 job market will be comprised similarly to that of 2009.
Phil Gardner, director of the institute, found the results of this year’s survey to be similarly disappointing.
“It looks like we lost about 40 percent in job opportunities last year — (more) than the 8 percent we had thought,” Gardner said. “We realized we had bottomed out, which means that we’re sitting on a precipice that says we’re not going any dramatically lower right now. We still could. It’s kind of a wreck at this level.”
He added large companies went from hiring 114 people to 64, accounting for a 60 percent drop in hires.
Gardner also indicated the next two to three months will hold critical economic information about the opportunities in the job market.
The survey’s results also showed 27 percent of respondents said they had “definite” intentions to hire new graduates, which is far lower than last year.
Gardner said the most likely candidates for positions requiring post-undergraduate or post-graduate degrees are those that are versatile in their ability to adapt to new positions.
He said among multiple degrees, companies are most likely to hire students with “technical skills … and a broader skill set for the flexibility to move around. Employers are being careful in their selections, but they want the young adult with the best skill package.”
Justin Runde, a UW freshman, said he is deciding between mechanical and chemical engineering. His next decision is whether he should apply to the UW School of Business following his undergraduate degree.
“I think a business degree would make me appear more well-rounded and apt for the real world,” he said.
Graduate student Andrew Koss recently received his undergraduate degree in German. He is currently pursuing his masters to increase his attractiveness to employers.
He said a bachelor’s degree in German alone has not aided his search for a job and he hopes “somewhere down the line” his degrees will converge and he will find himself employable.
Gardner affirmed that speculation saying fewer advanced degrees are making room for Ph.D.s.
