2008 Woodie Awards
Job market fears may be unfounded for this spring's graduating seniors
Aubrey Krekeler
Issue date: 5/2/08 Section: News
As graduation looms ever closer, 2008 Saint Louis University graduates are feeling the pressure of the job market as they plan to enter the "real world."
In the midst of a declining economy and increasing prices, obtaining that first job out of college may be more intimidating than in previous years, but Kim Reitter, director of Career Services, isn't seeing any drastic changes in the employment of SLU students.
"The media is saying it's bad, but we're not seeing that for the entry-level college graduate," she said.
Jack Strauss, Ph.D., an economics professor and forecaster at SLU, thinks the decline of the economy will hit college students first.
"Certainly, we are experiencing economic slowdown," he said. "This is the worst market since 2001 [and] 2002, and it's pretty clear that the job market-locally, regionally, nationally-is declining."
Strauss said St. Louis won't be getting hit as hard as the coastal cities and states.
"There is a particular slowing in the housing and financial sectors, while education and healthcare are doing OK," he said.
Because the economic strife is hitting the financial and housing sectors the most, St. Louis won't be affected as much by the downturn in the economy.
"If you're having a hard time here, the east and west coasts aren't the places to fly, because those economies are going to be hit the most," Strauss said.
Strauss warned people not to be fooled by claims of increasing college graduates' wages.
"Wages adjusted for ... inflation have been flat for seven years," he said. "We know prices are higher, so, although salaries are increasing by 4 percent, they are just keeping up with inflation-there are no real gains."
According to Reitter, the industries that are always big-engineering, physical therapy, accounting and nursing-continue to recruit a high number of recent college graduates. For those students in liberal arts majors, the competition gets a little steeper, especially with some majors like marketing and communication.
In the midst of a declining economy and increasing prices, obtaining that first job out of college may be more intimidating than in previous years, but Kim Reitter, director of Career Services, isn't seeing any drastic changes in the employment of SLU students.
"The media is saying it's bad, but we're not seeing that for the entry-level college graduate," she said.
Jack Strauss, Ph.D., an economics professor and forecaster at SLU, thinks the decline of the economy will hit college students first.
"Certainly, we are experiencing economic slowdown," he said. "This is the worst market since 2001 [and] 2002, and it's pretty clear that the job market-locally, regionally, nationally-is declining."
Strauss said St. Louis won't be getting hit as hard as the coastal cities and states.
"There is a particular slowing in the housing and financial sectors, while education and healthcare are doing OK," he said.
Because the economic strife is hitting the financial and housing sectors the most, St. Louis won't be affected as much by the downturn in the economy.
"If you're having a hard time here, the east and west coasts aren't the places to fly, because those economies are going to be hit the most," Strauss said.
Strauss warned people not to be fooled by claims of increasing college graduates' wages.
"Wages adjusted for ... inflation have been flat for seven years," he said. "We know prices are higher, so, although salaries are increasing by 4 percent, they are just keeping up with inflation-there are no real gains."
According to Reitter, the industries that are always big-engineering, physical therapy, accounting and nursing-continue to recruit a high number of recent college graduates. For those students in liberal arts majors, the competition gets a little steeper, especially with some majors like marketing and communication.
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