Prospects are brighter for graduating students this year
The employment prospects for new college grads are finally on the mend after taking a beating from the Great Recession. This is according to college placement directors, employment experts and students themselves.
According to the Associated Press, the unemployment rate for college grads aged 24 or younger has been dropping.
From January through April, it averaged 7.2 percent. Comparable rates for 2011 and 2010, not seasonally adjusted, were 9.1 percent and 8.1 percent, respectively.
A study by research firm, Millenial Branding states that 87% of employers will hire more recent graduates this year. The report states:
This is great news for the 1.7 million college students who are graduating. 86% hired 25 or fewer recent college graduates in the past six months, but 50% haven’t hired a single intern during the same timeframe. 79% of employers hire 30% or fewer interns for full-time positions.
Some majors are faring better than others. The Report states that 34% of companies are recruiting engineering and computer information systems majors and 30% are recruiting liberal arts majors. Only 18% are recruiting finance and accounting majors combined.
After a drought of jobs in the past few years, this will be welcome news for a graduating class saddled with student loans.
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