Monday, May 2, 2011

A Glimmer of Hope?

It is a well known fact that our economy is crumbling. And we can see that in spiked gas prices, high food prices, and an increase in the cost of living. Many of us believe the economy will only get better, while a few of us believe it will only get worse.

An abundance of articles are available which state many different viewpoints on the worsening of the economy. One of the better ones is the article from the Economist titled “The Glimmer of Hope.” Although I’m not here to explain how bad the world economy is right now, it is still important to know what’s coming in the future. That way you can create a plan to prepare yourself. I’m actually here today to explain the job outlook for college graduates for 2011, so I’ll start off by stating the basic facts.

According to the Job Outlook 2011 Spring Update from the National Association of Colleges and Employers (NACE), “Employers indicate they plan to hire 19.3 percent more graduates in 2010-11 than they did in 2009-10.” Maybe there is a glimmer of hope for the economy. With that being said, the Bureau of Labor Statistics has stated an unemployment rate of 9.2%, which isn’t so good. Just remember, you have to take the good with the bad.

So, even in a bad economy, there are more jobs available for college grads than in previous years. However, those career opportunities aren't looking so good in every field, particularly when it comes to construction workers and surrounding career fields. Careercast recently published an article named “The 10 Worst Jobs of 2011.“ If you investigate that list, you’ll realize most of the jobs have to do with construction work.

On the brighter side of life, based on the compiled list by Yahoo Finance, the business, technology, and the healthcare sectors have splendid job outlooks for 2011 and the years to come. The Bureau of Labor Statistics has stated in several of its articles what the expected growth of each of the mentioned career fields should be for the decade to come: “Computer software engineers are among the occupations projected to grow the fastest and add the most new jobs over the 2008-18 decade, resulting in excellent job prospects.” Yet “employment of computer programmers is expected to decline by 3 percent through 2018.”. The Business Administration “is projected to be the fastest growing, with employment increasing 83 percent over the 2008–18 period, and is one of the highest paying.”. And lastly physicians and surgeons job outlook is “projected to grow 22 percent from 2008 to 2018.”

One thing we’ve learned today is that for the year of 2011, college graduates should have a much easier time searching for a job than previous years. Just remember, at any given point in time, the economy can go south, and it’s always, and I mean always, a good idea to have a backup plan.

Image: graur razvan ionut / FreeDigitalPhotos.net

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