Minnesota’s near-6 percent seasonally-adjusted unemployment rate is the highest it’s been in more than 20 years—but that doesn’t mean new college graduates will have a hard time finding jobs, according to a recent study.
In its annual survey of Minnesota employers, St. Cloud State University’s Career Services Center found that 35 percent of employers plan to increase hiring and 58 percent plan to continue hiring at their current rates in 2009.
“For every employer planning to decrease hiring, there are nearly six planning to increase,” wrote Andrew Ditlevson, associate director of the Career Services Center, in the recently released job outlook report. “Based on this, the job market for new college graduates looks to be much stronger than the overall job market.”
The job outlook survey—now in its fifth year—tapped employers that are among the most active in college recruiting in Minnesota. A total of 221 participated in the survey.
Among other survey findings:
• The financial services, nonprofit, and retail industries are the hottest markets for college graduates seeking jobs. The health care, technology, and government sectors are next.
• Slightly more than a quarter of employers plan to increase salaries in 2009.
• The three things valued most in college graduates are honesty and integrity, written and verbal communication skills, and interpersonal skills.
• The three things college graduates most need to improve upon are realistic job expectations—especially with regard to salary, entry-level status, and nontraditional hours—a strong work ethic, and written and verbal communication skills.
• Almost half of employers will consider hiring college graduates with any major.
• About three-fourths of respondents offer internships—and many consider interns as a first option when full-time positions vacate.