The Recovering 2012 Job Market

THE RECOVERING 2012 JOB MARKET WHAT GRADUATES CAN EXPECT IN THE COMING YEAR Recent and soon-to-be college grads are still looking for an indication that the U.S. job market is improving. Fortunately, a recent survey of over 8,000 employers in America suggests that many employers plan to increase hiring in 2012. Let's examine what this means for college grads and what majors and degrees are the most highly sought after. THE HEALTH OF THE JOB MARKET The 2012 job market looks better, especially for college students. A recent MSU study found that the college segment of the market is poised to rebound this year. While overall hiring across all degrees is expected to increase 3 percent, hiring at the BACHELOR'S LEVEL IS EXPECTED TO SURGE BY 10 PERCENT. Of those surveyed, companies that hired new employees this year have a much greater likelihood of hiring in 2012. OF EMPLOYERS THAT HIRED IN 2011: OF EMPLOYERS THAT DID NOT HIRE IN 2011: Say they will definitely Say they definitely 8% will not hire in 2012. 12% hire in 2012. 21% 23% Say they have Say they have preliminary targets for 2012. preliminary targets for 2012 41% 50% Say they will definitely hire in 2012. Say their hiring plans are uncertain. 25% 24% Say they definitely will Say their hiring plans are uncertain. not hire in 2012. IN CONTRAST, A MUCH GREATER PERCENTAGE OF EMPLOYERS WHO DID NOT HIRE IN 2011 HAVE UNCERTAIN OR NO PLANS TO HIRE IN THE UPCOMING YEAR. HIRING PROJECTIONS BY MAJOR Though some claim that your undergraduate major is less relevant to your long-term career than students think, certain undergraduate degrees are more desirable than others. PERCENT OF EMPLOYERS SEEKING DEGREE HOLDERS IN 2012 12% 12% 12% 16% 38% EDUCATION SOCIAL SERVICE HEALTH AGRICULTURAL AND ENGINEERING NATURAL RESOURCES 20% 24% 26% 37% 50% SCIENCE HUMANITIES COMPUTER SCIENCE COMMUNICATIONS BUSINESS WHEN DECLARING A MAJOR, CONSIDER THAT BUSINESS, ENGINEERING, AND COMMUNICATION DEGREES WERE NAMED BY EMPLOYERS AS THE MOST DESIRABLE. HIRING PROJECTIONS BY DEGREE LEVEL Many graduates wonder whether they will have improved career prospects by pursuing a master's or PhD or entering the workforce with just an undergraduate degree. The data suggest that if you're going to pursue a graduate degree, it is worth it to go after your PhD, as it is far more desirable to employers than a master's degree. CHANGE IN HIRING BY DEGREE LEVEL, 2011 - 2012 12% THE MAJORITY OF THESE NEW HIRES WILL BE MADE BY "FAST-GROWTH" 6.9% 6.4% COMPANIES OF 9 - 10,00 EMPLOYEES. THESE BUSINESSES EXPECT TO HIRE 35 PERCENT MORE EMPLOYEES THAN LAST YEAR. 0% -1% ASSOCIATE'S BACHELOR'S MBA MA/MS PHD PROFESSIONAL TRACKING THE ACTION Remaining course loads and class schedules can make hiring students tricky for prospective employers. As a result, companies focus their hiring efforts during specific times of the year. FALL 2011 THE MAJORITY OF HIRING WILL BE MADE IN THE FOLLOWING INDUSTRIES: SPRING 2012 MANUFACTURING FINANCE THE MAJORITY OF HIRING WILL BE MADE IN THE MACHINERY ACCOUNTING FOLLOWING INDUSTRIES: ELECTRICAL EQUIPMENT COMPUTER DESIGN AUTO/TRUCK FAST-GROWTH COMPANIES IN ALL INDUSTRIES. Overall, employers made an average of 32 HIRES per organization. Employers will make an average of 21 HIRES per organization. WINTER 2012 SUMMER 2012 THE MAJORITY OF HIRING WILL BE MADE IN THE THE MAJORITY OF HIRING WILL BE MADE IN THE FOLLOWING INDUSTRIES: FOLLOWING INDUSTRIES: MIDSIZE COMPANIES GOVERNMENT EDUCATION ACCOUNTING EDUCATION NONPROFITS AGRICULTURAL SCIENTIFIC RESEARCH Employers will make an average of 25 HIRES per organization. PRODUCTION Employers will make an average of 18 HIRES per organization. Students should consider what time of year employers typically hire so they can make sure to be as prepared as possible when applying. If you're looking to work for a fast growing company, such a start-up, start looking in the fall and prepare your resume for the spring, as that is when most of these companies do the bulk of their hiring. SOURCES: Course Hero Michigan State University Learn. Share. Teach. Achieve. 2% 4% и)