Job prospects good for 2012 graduates
April 2, 2012
With just a short amount of time before the 2011-2012 school year ends, many future grads are hitting the streets in search of the perfect job. While the employment market remains tough, there are signs that college graduates will have a better chance of landing a job than they have in recent years.
According to the U.S. Bureau of Labor Statistics, the unemployment rate among those who have a bachelor's degree decreased from 4.4 percent to 4.2 percent in the past year.
In addition, a recent survey conducted by the National Association of Colleges and Employers (NACE) revealed that employers plan to hire 9.5 percent more graduates from the Class of 2012 than they hired from the Class of 2011.
"Specific disciplines of targeted interest include accounting; finance; business administration; and mechanical, electrical, and computer engineering," says Marilyn Mackes, NACE executive director.
The Collegiate Employment Research Institute (CERI) at Michigan State University agrees that an increase in hiring for recent college graduates is expected. It found that a 7 percent increase is expected among bachelor degree holders.
"Employers are now more optimistic about the college labor market than at any time since 2007," the report stated.
While this expected increase in hiring is good for those who will be entering the job market, experts say finding a job is still expected to be challenging. Colleges are encouraging students to begin their job searches early and to consider a variety of positions in choosing the right one for them.
Whittier College's director of career planning and internships, Linda Ross, recently told the Los Angeles Times that most students simply aren't landing their dream job right out of college anymore. However, she says that jobs that offer graduates a chance to build their skills and make connections that will help them work toward achieving their goals are great starting points.
The good news is that even though finding a job after graduation may be a bit challenging, having a degree is likely to payoff in terms of salary.
U.S. Census Bureau reports that individuals whose highest level of education is high school made an average of $31,000 per year in 2010. For those whose highest degree is a bachelor's degree, the average was $58,000.
In addition, recent research from the Pew Research Center reveals that over the course of a 40-year career, college graduates are expected to make about $650,000 more than those without a college degree.
Moms who want to boost their earning potential by getting a bachelor's degree can get financial help by applying for various grants for parents, scholarships for mothers and single mother scholarships.
