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What is the job outlook for Spring 2012 graduates?

graduation

Photo by Flickr user Will Folsom

With commencement merely weeks away, members of the Class of 2012 are no doubt scurrying to secure employment. They’ll be in good company with the classes of 2010, 2009 and, for that matter, 1999 and 1989 if current job woes scenarios are accurate.

The prospects for this year’s new crop of diploma-holders is a timely business, workplace and personal finance story to do ahead of cap-and-gown season.

And might I suggest an interesting angle: Look back at how 2011 and 2010 gradutes are doing.  It should not be difficult to track down recent recipients of bachelor’s and master’s degrees (think social media, fraternities and sororities, student groups and other avenues for tracking down recent diploma recipients – not to mention school and college placement offices.)  What are, say, 25 or 50 or 100 of the class of 2011 up to a year later. 

Where are they living ? TIME reported that 85 percent had moved back in with parents.   And what is the ripple effect of these multi-generational households on any business that had banked on young adults setting up household, from big-box bath and bedding stores to condo developers to bistro operators near young-professional friendly enclaves?  Who loses when generations double up, or triple up, as was common until 40 or 50 years ago? 

As to last year’s grads, hat are they earning, how many resumes did they send, or how many miles did they travel for interviews? What is their current wage, credit-card balance, savings and retirement account status, etc., and how does it compared to where they thought they would be a year after graduation?

Certain go-to professions of the last decade or so are now falling flat; The Chronicle of Higher Education reports that nearly two dozen law schools may be sued for touting deceptive job-placement rates.  Even nurses — who supposedly faced a near-insatiable job market in recent years — apparently can’t count on that any longer. 

This Seattle Times story even chronicles the difficulty some nurses have obtaining work; even though health care has been touted since bfore the recession as the foolproof grail for job retraining and secure employment.  You might want to check in with area nursing schools, EMT training facilities, unions, health care systems and other players about the status of what’s been considered the go-to field.

Maybe heading overseas is the answer, according to this Bloomberg Businesweek report

And if you’re following the student loan crisis – which I wrote about in this recent blog post — here’s a new-ish angle: unemployed grads are protesting the monthly fee that keeps their loans in forebearance.

 

About the Author

Veteran financial writer Melissa Preddy served as a business writer, editor and columnist for The Detroit News from 1995 to 2008, is a Michigan-based freelance journalist. She now works as a writer and editor for a medical research unit of the University of Michigan Medical School. Follow her daily posts. | E-mail: Melissa Preddy

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