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Earning

 
Employers Expected to Hire Fewer Graduates Than in Past

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By Rich Abdill 
The Diamondback, U. Maryland

(UWire)--The job search for graduating seniors will likely be a difficult one, as employers cut back on new hires in the continuing economic recession.

Employers are predicted to hire 22 percent fewer graduates from this year's college class than from the last, according to the National Association of Colleges and Employers.

The job market has plummeted since last year and is not expected to recover for at least a year, said Edwin Koc, the association's director for strategic and foundation research.

Unemployment has risen 43.3 percent among 20- to 24-year-olds and now stands at 12.9 percent

"It's down across the board," he said. "There isn't a region, there isn't an industry, there isn't anywhere that's not affected."

The Department of Labor also released a report last week outlining equally grim prospects: National unemployment rose to 8.1 percent in February, with 12.5 million Americans unemployed. That figure is 851,000 more than in January and 5 million more than February of last year.

Unemployment has risen 43.3 percent among 20- to 24-year-olds and now stands at 12.9 percent, with about two million unemployed compared to 1.3 million in February 2008.

The decline is not likely to turn around any time soon, Koc said, adding that the economic downturn will almost certainly affect next year's graduating class at least as hard as this year's.

"The projections are that we won't see economic growth before spring 2010," he said. "The best I would hope for the class of 2010 is an outlook that's only equally as bad as 2009."

Students at the University of Maryland are a little better off than some, though. The federal government in Washington has been somewhat sheltered from the recession, meaning local students have easier access to those jobs that need to be filled.

Koc added that the recently-passed stimulus bill could have marginal effect on the job market as a whole, but the only immediately apparent boosts are being predicted in the federal sector and education.

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Jobs working for the federal government could be attractive at the university, where the most popular majors are economics, criminology and criminal justice and government and politics - all of which can lead to careers in Washington.

Even so, employer attendance at Tuesday's criminology and criminal justice job fair was down about 10 percent from last year, said senior criminology and criminal justice major Robert Huekler, who is president of the Criminal Justice Student Association and an organizer of the fair.

Some students remain confident, believing opportunities are there for those who work hard, said senior marketing major Caitlin Webster.

"I've been to a few of the job fairs, but I don't really have any leads," she said. "I know people that are real go-getters that go to a lot of networking events and have jobs lined up even at the junior level."

Junior marketing and supply chain management major Alex Gorman said his plan is simply to keep trying.

"I'm just looking to get an internship with someone who can give me a job opportunity in the next few years," he said. "I can see how finance majors might be freaking out and trying to pick up another major, but given my major and what I want to do, I'm just trying to stay the course."

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