Prospects for this year's college graduates are better than they have been in the previous two years. The Massachusetts economy continues to grow: the state unemployment rate hit a two-year low in April and employers added nearly 20,000 new jobs. Massachusetts' unemployment rate, at 7.8 percent, is well below the national average of 8.8 percent and for job seekers with college degrees it is about half of that. Many of the colleges and universities in Boston celebrated their commencements this month. Here's a look at the job market for this year's college graduates:
The National Association of Colleges and Employers (NACE) predicts that employers will be hiring 19.3 percent more college graduates this year compared with last year. CareerBuilder also asked employers about their plans to hire college graduates and nearly half (46 percent) of the 2,800 surveyed said they plan to hire recent graduates.
Twenty-six percent surveyed by CareerBuilder said they plan to offer higher starting salaries than they did in 2010. Salaries are up from the previous year for the first time since 2008, with an average starting offer of just over $50K. Engineering and computer science jobs are among the highest paying jobs for new graduates.
The Class of 2011
The U.S. Department of Education projects 1.7 million students will graduate with bachelor's degrees in this 2010-2011 winter-spring graduation cycle. Females outnumber males with the Department of Education reporting 140 females to every 100 males in the Class of 2011 (58 percent of college graduates are female, with 42 percent male). This class is the most indebted in history with an average personal debt of $23K after graduation.
In general, the Class of 2011 is a wary bunch used to seeing their classmates leave campus without a job to move back home with parents and put other adult milestones - like buying a home - on hold.
Many will have held at least one or two internships during their college years, which is a good idea career-wise as forty percent of entry-level jobs are being filled by former interns.
If you're among the 46 percent of employers who will be hiring recent college graduates this year, it's important to keep in mind that these candidates don't have the same resumes or interviewing skills as more experienced job seekers. I recommend these six essential questions for interviewing recent college graduates.
Aaron Green is founder and president of Boston-based Professional Staffing Group and PSG Global Solutions. He is also the vice chairman of the American Staffing Association. He can be reached at Aaron.Green@psgstaffing.com or (617) 250-1000.
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