The job market still remained soft for seniors last year although the percentage of last year's seniors receiving full-time jobs increased from 25 to 27 percent, the sluggish economy and the so-called "jobless" recovery notwithstanding.
Last year's seniors took jobs ranging from investment banking to jobs with independent film production companies.
Pursuing employment
Sixty-four percent are pursuing employment, and 25 percent are pursuing postgraduate education.
Finance remains the leading industry employer with roughly 37 percent of students placed in those jobs. Services and nonprofits are the second and third leading industries with 28 and 19 percent, respectively.
Though there was a modest increase in seniors pursuing full-time jobs, "it is difficult to predict whether the modest changes between the Class of 2003 and 2002 signal a job recovery," said Rebecca Ross, the director of counseling and programming in the Office of Career Services.
The slight upward trend may be the beginning of a recovery.
The National Association of Colleges and Employers predicts that employers will hire 13 percent more college graduates in 2003-04 than in 2002-03.
Labor productivity
New figures from the U.S. Department of Commerce show that labor productivity — output per hour worked — has increased 6.8 percent, which "is triple the normal figure," economics professor Elizabeth Bogan said.
But Bogan attributed the slight increase in full-time jobs to a possible recession mentality: Students acknowledge that it's hard to get jobs, so many will take whatever is offered.
The decline in the average salary from $49,082 for the Class of 2002 to $47,515 for the Class of 2003 may be evidence of this mentality.
Career services is encouraging students to be proactive and utilize diverse methods to obtain a job.
It offers resume assistance, job search help and recruiting events to students. The staff helps with various career panels that attract alumni in specific careers to come to campus and discuss an industry.
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