College grads to see rise in job openings soon, study suggests

Employers are expected to hire up to 10.2 percent more new college graduates from the Class of 2012, according to a press release on a study by The National Association of Colleges and Employers.

That is a 9.5 percent increase from the projected value conducted in September, according to the press release.

NACE’s Job Outlook 2012 Spring Update Survey suggests this is the second consecutive year that employers have raised their hiring expectations, according to the press release.

The average number of jobs posted by respondents is up 10.5 percent from 105 in 2011 to 116 currently.

“The evidence strongly points to a better labor market than we have had in the last few years,” said Boston University economics Professor Kevin Lang  in an email.

But the market is still “not good,” he said.

“Since for the last few years many graduates have been going on to continued studies in order to avoid entering the job market at a bad time, there is likely to be increased competition for the growing number of jobs,” Lang said.

Andrea Koncz, an employment information manager at NACE, said the market “looks positive” this year.

“We’re hoping that [the market] will continue to improve,” Koncz said. “When we ask these same employers for the fall of next year, they plan to hire more graduates in the fall, which is another good sign.”

Another survey from Michigan State University’s Collegiate Employment Research Institute found “total hiring across all degrees will expand by 4 percent this year.”

“The college labor market continues to expand opportunities but at a more moderate rate than last year,” according to the Recruiting Trends 2011-12 study.

Dr. Phil Gardner, director of the Collegiate Employment Research Institute, leads the survey each year and said the current market has improved.

“We’re seeing [the market] getting better from what it has been, and we’re seeing it getting stronger,” Gardner said, “which is very encouraging.”

BU economics Professor Daniele Paserman said the job market has shown some signs of strength in the past few months, including the market for new college graduates. Nevertheless, he said, some majors are easier to hire.

“I think that has always been the case that majors in the natural sciences, engineering and economics – the market for these majors has been relatively stronger,” he said. “I expect that that will look fairly similar this time around as well. There are some majors that are just easier to find jobs with.”

While the outlook is optimistic, “the competition will be fierce,” according to the MSU/CERI study.

“Employer demand falls short of the supply of graduating students,” the study states.

While Paserman said it is difficult to predict the future market, there are “reasons for cautious optimism.”

Gardner also said he feels that the market for college graduates will improve further.

“The opportunities for college market, which is quite [a] small [market], will continue to improve unless we have a major global calamity,” Gardner said. “We will see a better job market.”

Paserman said he is not particularly surprised with the 10.2 percent jump, as that is part of the economy, but the market for college graduates has always been slightly stronger.

“In general, even during recession, the market for college graduates is still fairly more robust than market for people without [a] college degree,” he said. “I don’t find it surprising that the ones to gain are the workers with more credential.”

But Gardner warned college students to start their hunt early.

“If a senior is starting now or waiting until the summer, they’re going to have a harder time,” Gardner said. “Those juniors need to start thinking about their job situation and start transitioning now so they can get the experiences they need so they’re ready to start fast. The job market is still going to be competitive.”