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Sunday, Apr 01, 2012
Reuters
After grad job slump, big hiring is back at US colleges

NEW YORK - Sean Chua expected the hunt for his first job after college to be tough. After all, he watched his brother struggle to find a position when he graduated back in 2008.

But his fears were unwarranted. The 21-year-old justice major at American University sent out only seven resumes before getting an offer earlier this month from IBM for an IT consulting job, making him a beneficiary of a turnaround in the labour market for US graduates.

"My mom's first position was with IBM so she is particularly proud," says Chua.

Hiring is back in a big way on many college campuses, one of several signs a recovery in the US jobs market is gaining traction.

After four years during which many students graduated to find no job and had only their loans to show for their studies, most college campuses are teeming with companies eager to hire.

A survey by the National Association of Colleges and Employers (NACE) found 2012 hiring is expected to climb 10.2 per cent, above a previous estimate of 9.5 per cent.

Companies such as General Electric, Amazon, Apple and Barclays Global are looking for new staff, even if some firms remain below the pre-recession levels of new hiring. In another sign of the recovery, some first-time job seekers are receiving multiple offers.

At University of North Carolina-Chapel Hill, the career service office has seen up to now a 7.4 per cent increase in the number of interviews of students by potential employers from last year and the number of companies seeking to recruit for full-time jobs is up 9.2 per cent. Undergraduate business majors reporting full-time job offers is up about 10 per cent.

Career experts at a dozen of US schools said they have seen an increase of 15 to 30 per cent in the number of companies attending campus career fairs.

At University of Florida, the fall career fair garnered 15 per cent more companies in attendance than in 2010. And 150 companies asked to conduct interviews versus about 100 in recent years, said Ja'Net Glover, associate director of employer relations at the school.

The increase in demand was so significant that it was the first time in years the school had to use both the first and second floors of the school's basketball facility for interviews.

"It's kind of like a no-brainer," says Kathy Sims. Director of Career Services at UCLA. "The economy is better and the college recruitment market is improving."

While the US jobless rate fell to 8.3 per cent in February, unemployment among college graduates over the age of 25 stood at 4.2 per cent. Historically, their jobless rate is half that of Americans with only a high school education. Over the recession, unemployment among graduates climbed as high as 5 per cent, sparking protests over the rising tuition cost of some US colleges.

US unemployment data for March, due for release on April 6, is expected to show a total of just over 200,000 jobs were created in the month, keeping the overall unemployment rate at 8.3 per cent.

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