Unemployment rate drops nationally

By Wenqian Zhu

Even though national unemployment rates have dropped once again, college students graduating across the nation may still have a tough time snagging their dream jobs.

The unemployment rate nationally is now at 8.3 percent, the lowest in nearly three years, according to the United State Department of Labor.

The drop comes in light of the U.S. job market adding 243,000 jobs in January — this figure, on the other hand, is a good sign for students graduating in May, Jeff Garis, senior director of Penn State’s Career Services, said.

But according to a new study published Thursday, young Americans between ages 18 and 34 are experiencing the most hurdles in seeking jobs. This age group is more likely to be unemployed now than at any time since the government began collecting such data in 1948, according to a study conducted by the Pew Research Center that polled about 2,000 adults.

The study shows that the poor economy has had an impact on young adults to postpone their decisions of marriage, parenthood and home buying. In addition, almost 50 percent of young adults reported taking a job they don’t want in order to pay the bills, with 24 percent saying they have taken an unpaid job to gain work experience.

But even in the face of a difficult time, young Americans are still optimistic about their futures, and 57 percent say they believed they would have enough money to lead their ideal types of lives, according to the study.

While students across the country may be having a harder time finding jobs after graduation, Penn Staters saw an increase in interest during last week’s Career Days.

According to statistics provided by Garis, 333 employers attended the Spring Career Days on Feb. 6 and Feb. 7 — a six percent increase from spring 2011. More than 4,000 students participated in the career fair in two days, a number that also increased from last year.

“Penn State still tops the recruiter ranking, if not at the top,” Garis said.

Garis said three aspects generate employers’ interests in Penn State. First, Penn State is a large land-grant university with a variety of programs from liberal arts to business to engineering and sciences. Second, Penn State students are recognized for their motivation of working with a professional reputation. Third, alumni have a very positive effect.

“Quality and quantity matters,” he said about Penn State students.

As the country is experiencing a long economic recession, and the job market has been tough in recent years, many students are concerned about their potential employment opportunities.

Garis suggested students develop professional relationships with employers, set up their individual job plans, go to the walk-in counseling at Career Services and utilize the university-wide, as well as college-specific career fairs.

Uploading resumes and cover letters online is “necessary,” but not “sufficient,” he said.

“Students should target a few companies, identify certain employers, express their particular interests and do follow-up work,” Garis said.

And networking is essential.

Garis said students should make use of their relationships with faculty, family and friends, and get their names recognized. He also recommended students use the social networking website LinkedIn.

Considering the current job market data, the number of jobs added nationwide was about 100,000 more than economists estimated, and manufacturing and professional services categories are driving the employment, according to a report released by the Labor Department.

Russell Chuderewicz, senior lecturer of economics, said the labor market is an important part of economy, and the country needs to continuously increase jobs by about 250,000 each month to help the recovery of economy.

“Stronger hiring leads to more consumers spending, which leads to more hiring,” Chuderewicz said. “But we can’t forecast only depending on this one report. It’s definitely indicating the economic growth.”

Read more here: http://www.collegian.psu.edu/archive/2012/02/14/unemployment_drops_nationally_.aspx
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