Friday, April 27, 2012

The Outlook for College Grads - Trendlines article

The outlook for employment is getting better each year as the economy slowly emerges from the grasp of the recession. A “better” outlook means that overall economic activity is increasing as demand for goods and services improves. Officially, the recession ended in June of 2009 but that was the bottom of the business cycle and our economy has a long way to go to gain back the economic and job losses. The good news is that we are experiencing job growth in nearly all industries across the state. The Utah unemployment rate has fallen from around 8.0 percent to under 6.0 percent. Consumer and business spending is up which means more jobs.

For graduates of colleges and universities, the improving job market signifies more opportunities. Hiring activity by employers is up, but not as robust as it was before the recession when speculation fueled hiring. Each year the National Association of Colleges and Employers (NACE) conducts a survey of employers that requests information about business hiring prospects for the coming year. This year’s release stated employers plan to increase hiring activity by 9.5 percent over the class of 2011. Although this is an increase, the survey implied that much of the increase was due to fill vacancies resulting from attrition, not expansion, in employers’ workforces.

To read more, see the entire article here.

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