Saturday, May 17th, 2008

Job market to suffer, albeit briefly

Recent lull in hiring will render some graduates unemployed

By Hilaire Fong

Daily Bruin Contributor

While the job market is looking poor for 2002 college graduates, only certain industries will be affected for a short period of time, according to a report conducted by the Collegiate Employment Research Institute.

The unemployment rate is rising and according to a recent survey by the National Association of Colleges and Employers, there will be 20 percent fewer college hires in 2002 than in 2001.

The decline in hiring stems from a combination of a manufacturing slowdown, reduced consumer spending and the effects of Sept. 11, said Philip D. Gardner, author of the report.

While the health care industry will be minimally affected, the technology industry will be hit hardest, said Chris Thornberg, a senior economist at The Anderson School at UCLA.

Computer science and engineering graduates will not receive as many offers as in the past, and consulting companies are dramatically scaling down their recruiting, according to the UCLA Career Center.

Though graduates may not get their dream jobs, they should not be concerned about finding employment, Thornberg said.

Students should explore the wide range of career opportunities available instead of focusing on one particular industry, said Joyce Haraughty, the UCLA Career Center employer and corporate relations manager.

“They may be pleasantly surprised at finding challenging and interesting opportunities they would not have looked at otherwise,” Haraughty said.

Career Center employees, who say government and nonprofit organizations, public accounting firms and financial service firms are searching for employees, have seen an increase in small and mid-size companies coming to campus this fall to recruit students.

According to the center, 83 companies conducted more than 1,600 interviews on campus between Oct. 15 and Oct. 31. Many companies have committed to conducting campus interviews during winter and spring quarters, employees said.

While some attribute the poor job market partially to Sept. 11, others say the attacks will only have a short-term effect.

“There is weak employment growth everywhere in the economy,” Thornberg said. “Despite everything you’ve heard, the Sept. 11 attacks have no long-term effects on the economy. Companies do not lay off workers because of short-term effects.”

But students will need to work harder to get job offers in today’s competitive job market, Haraughty said. Students should take advantage of career counseling and workshops, she said.

Because of the competition, students should focus on details and research before going into an interview, Haraughty said.

“A student who has taken the time to know things like the company’s products and services, competition, financial performance, history and expansion plans will have a definite advantage over less-prepared candidates,” she said.

Net-working and making contacts will be more important now than before, she said.

“Internships, community service and volunteerism and involvement in student groups and associations will provide experience that will score points with employers,” she said.

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