Employers plan to hire 10.2 percent more college grads this year
The class of 2012 is expected to have better luck with finding jobs upon graduating from college than the class of 2011 did.
A press release from CollegeRecruiter.com reports that employers expect to hire 10.2 percent more new college graduates from the class of 2012 than they did from the class of 2011. This is according to a new study conducted by the National Association of Colleges and Employers (NACE). When polled in September, they only predicted a 9.5 percent hiring increase for the class of 2012.
“Although employers haven’t revised their earlier projections significantly, this upward movement along with other positive economic indicators, shows that the job market for new college graduates is improving steadily,” said Marilyn Mackes, NACE executive director.
Results from NACE’s Job Outlook 2012 Spring Update Survey indicate this is the second consecutive year in which employers have increased their hiring expectations. The survey also shows an increase in the average number of jobs posted by respondents, from 105 in 2011 to 116 currently, a gain of 10.5 percent.
Reuters reports that companies such as General Electric, Chrysler, Amazon, Apple and Barclays Global are looking for new staff. General Electric plans to hire 5,000 interns this year, a company that usually hires 3,000 to 4,000 annually. Chrysler concurrently wants to hire 400 interns this year, up from 256 last year. Companies in banking and financial services have also started showing up on campus, which were previously among the hardest hit during the recession.
At the University of North Carolina at Chapel Hill, the career development office has seen a 7.4 percent increase in the number of interviews of students by potential employers from last year. The number of companies recruiting for full-time jobs has risen to 9.2 percent. Undergraduate business majors are in luck, as the number of those reporting full-time job offers is up nearly 10 percent.
Career experts at several U.S. colleges said the number of companies attending campus career fairs has climbed by 15 to 30 percent. At a career fair at the University of Florida last fall, 15 percent more companies showed up than in 2010. One hundred fifty companies asked to interview job-seekers, up from nearly 100 in recent years, said Ja’Net Glover, Associate Director of Employer Relations at the school. In fact, the surge in demand for workers was so strong that the school had to use both the first and second floors of the school’s basketball facility for interviews.
“It’s kind of like a no-brainer,” said Kathy Sims. Director of Career Services at UCLA. “The economy is better and the college recruitment market is improving.”
Salaries for the new graduates are also set to improve, as NACE says the median wage for entry-level job seekers after college for 2012 is up 4.5 percent higher than a year ago to $42,569.
“Even students with lower grades are finding opportunities,” said Lee Svete, Director of Career Services at the University of Notre Dame, who estimates that job placement at the university is up nearly 7 percent. In 2009, only 75 percent of college seniors had jobs or plans for graduate school at graduation. This year, the school expects that number to climb to 85 to 88 percent, well on its way to the 90 percent level of 2007.