Job Outlook: Hiring up 19.3 Percent This Year
For the first time since 2007, employers report a double-digit increase in their spring hiring projections, according to results of NACE’s (National Association of Colleges and Employers) 2011 Job Outlook Spring Update. The first hiring projections made for the Class of 2011 in the Job Outlook 2011 Fall Preview showed a planned increase in hiring of 13.5 percent for this year’s crop of new graduates. In this latest update, employers indicate they plan to hire 19.3 percent more graduates in 2010-11 than they did in 2009-10.
Following are some other highlights from NACE’s 2011 Job Outlook Spring Update:
• Overall, the number of applications employers received for each opening has risen nearly 45 percent since last year at this time, but the total number of positions/job postings reported by respondents has nearly tripled. Thus, the average number of applications received per position dropped from 40.5 in 2010 to just over 21 currently.
• With the exception of just four industries, increases in hiring are seen across the board. Results suggest that oil/gas extraction, chemical (pharmaceutical) manufacturers, computer/electronics manufacturers, and employers in the finance, insurance, and real estate group are among the best bets for Class of 2011 graduates.
• For the Class of 2011, college hiring is increasing in all regions. The increase projected by the Northeast is the largest, and nearly identical to what employers in this region projected in 2010. Compared to last year at this time, the Midwest and Western regions show the most improvement.
• Employers were given a list of skills/qualities to rate and verbal skills were top ranked, followed by the ability to make decisions and solve problems, and the ability to plan, organize, and prioritize work.
• Expectations for spring 2011 on-campus recruiting look promising, as 80 percent of respondents expect to recruit for full-time and/or internship positions.