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Riding out the recession

Caitlin Gaynor

After 30 years of teaching at Miami University, economics professor James Brock has three rules for his students facing life after college. Rule one - graduating students will find employment. Rule two - what they may find may not be what they thought they'd be doing. Rule three - Brock said in many cases, doing something you never thought you would do turns out better.

Brock's life lessons have never been more pertinent or terrifying for Miami's bicentennial class. With graduation looming, the clock is ticking for seniors to select their next move. Stranded in the middle of a tough economy, it comes as no surprise to many in the class of 2009, finding a job may prove more difficult than in past years.

Falling national averages

The National Association of Colleges and Employers (NACE) released a study March 4 stating hiring has fallen 22 percent as a result of the recession, and that figure is being felt on campus.

Brock said he thinks the statistic is indicative of a difficult truth.

"Clearly it's going to be harder than usual for graduates this year to find employment," Brock said. "They are graduating into an economy that is in a slump. It's just a bad luck of the draw."

Jennifer McLaughlin, assistant director of Career Services, said the Office of Career Services has definitely noticed the impact of the economy on potential employers visiting Miami.

"We are seeing fewer employers coming to campus, and employers don't always know hiring needs at this point, so they may be waiting to make job offers," she said.

Student perspectives on their futures vary - from fearful to nonchalant.

Beth Baker, a senior marketing major, said she's nervous her major won't translate to a job offer because she has gone on several interviews, and none have worked out.

"I've been nervous since this semester started," Baker said. "It seems that everyone (who) is getting jobs is in business or accounting."

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Baker said she knows the implications of lower hiring rates and is signing up on every online job site and

hoping for something to happen. She said for right now, she plans on moving home or traveling before settling into a final job.

Bill Loupee, a senior finance major, said he thinks the problem is exaggerated.

"I'm not really worried about it," Loupee said. "The professors talk about it a lot and some over exaggerate."

Loupee, a varsity hockey player at Miami, said he has decided to play hockey when he graduates, and as he said, "put off the real world for a year," since the economy is so bad.

Brock said there are two ways the struggling economy could play out for graduates. The first is that students may not be hired because companies are laying people off, and the last thing professionals want to do is hire someone fresh out of college.

Brock said an alternative possibility is that students may be hired easily because businesses and employers are laying off experienced employees, but they can hire college graduates cheaper than people they are laying off.

"Graduates may be good because they can pay them less," Brock said.

No easy outs

There are a few alternative options seniors are exploring including grad school. Baker said she hadn't originally considered graduate school, but the option is more realistic now.

Brock said he thinks graduate school may not be the best safe haven to ride out a bad economy.

"Applications to get into grad school go up when the economy goes down," Brock said.

Brock said graduate programs have gotten more competitive because millions of students are using it as their back-up option. Several public universities are tight on money or already in deficit - like Miami - and are not able to give out as much financial aid or as many teaching positions. Miami cut $100,000 in graduate assistantship jobs this past January.

McLaughlin said she agreed with Brock. She said she sees a lot of people who look to graduate school as an alternative option. McLaughlin said graduate school may not be the best way to go, especially if seniors don't know what they want to do because it's very expensive and classes are rigorous.

McLaughlin said she has also talked to students about opportunities like the Peace Corps, Teach for America, AmeriCorps VISTA and teaching English as a second language. Career Services has created a special workshop for students looking into taking a year off and experiencing different opportunities. The workshop is called Short Term Alternatives and one session was held in the fall and one in the spring.

She said these ideas are short-term alternatives that will still provide a good education and allow students to engage in a meaningful experience.

"(These opportunities are) allowing (you) time to help you think about what you really want to do," McLaughlin said.

She said it would be a good idea to find something in the next year or two that is meaningful and employers would appreciate or understand the experienced gained. She said after completing those opportunities, students should re-examine their options.

Baker said she was considering moving abroad to teach English because she was having no luck finding a job.

McLaughlin said Career Services is trying to help seniors with an increased series of workshops, with one featuring job search strategies. Students who want to participate in on campus recruitment have to go to a required orientation that focuses on interviewing skills. McLaughlin said because of the competitive job market, a basic understanding of the interview process is crucial.

"No matter how tight the economy is, we want to make sure Miami students interview well," she said.

Brock said Miami professors are trying to help students with as many ideas and options as they can.

Loupee said he agreed many professors have made it a point to talk about jobs in class.

"They want to help everybody too," Loupee said.

Even the employers coming to campus don't have many jobs to give, McLaughlin said. She said the best thing for seniors to do is keep an open mind and examine a variety of possibilities.

"We advise students to expand their acceptable range geographically and to expand the companies or fields they are interested in," McLaughlin said.

Loupee said he thinks Miami students need to stay as open as possible and realize they may not get the exact job they want right out of college. He said the option of settling for less money is better than being unemployed.

"I think people are looking at it with a positive attitude," he said. "There are still jobs to be had, but it's a matter of working harder to get them. "

Brock said it would be lucky if things would start to pick up again in the fall and winter.

His message to graduating seniors is to be patient and keep an open mind.

"The state of the economy is like the weather," Brock said. "One day you poke your head out and its wonderful, and then you poke your head out and it's cold."