College students have known for some time in the pit our of collective stomach that getting a job after graduation would be tough for the class of ’09. But today Time confirmed our fears with a comprehensive survey of hiring changes in many industries and, as the author puts it, it’s looking “grimmer than ever.”
According to the article, even grimmer than earlier this year; many companies surveyed reported a significant change in the number of hires now compared to October. But most just reported a plain, simple, and steep decline in the number of 2009 grads they would be hiring compared to last year.
Big surprise – the loss of 71% of the expected job openings in the finance is the highest of any industry. High losses were also found in “professional services,” including accounting and engineering. Shockingly, the government is hiring! And it’s pretty much the only employer with an increase in job openings from previous years.
Of course, schools are scrambling to find jobs for their graduates through alumni networking, widely seen as one of the only ways to beat the bear market. That’s two reasons to send your resume to Washington, kids. If you need a third, Time predicts that many seniors who don’t snag a job will end up working at Starbucks after graduation. People will always need caffeine.