Job statistics bring hopes, concerns

By Annie Wanless · Daily Trojan

Posted October 23, 2012 at 11:07 pm in News

California’s unemployment rate decreased from 10.6 percent to 10.2 percent between August and September with 8,500 new jobs added to the market — the second largest drop in the nation, according to statistics released Friday by the Unemployment Development Department.

Still, California’s unemployment rate remains the third highest in the country, and the L.A. area’s unemployment hovers above the statewide rate at 10.6 percent. The slow pace of job growth could have a direct impact on USC students. Employment rates for new college graduates are very low with nearly half of all college graduates under age 25 unemployed or employed in jobs that do not require a college degree, according to a Northeastern University study that looked at 2011 data.

Though conditions might not be optimal, Carl Martellino, executive director of the USC Career Center, said the situation is ultimately positive.

“The outlook for our students searching for jobs after graduation has continued to improve with each year since the Great Recession of 2008 being better than the year prior,” Martellino said.

Rebeca Enriquez, a senior majoring in business, is not looking for a job in Los Angeles, but said she has noticed the effects of unemployment throughout the state. She plans to look for work in San Diego after graduation.

“It’s been tough to find a job down there -— at least the jobs I want to try and go into,” Enriquez said.

Martellino noted that job creation is dependent on every industry. The National Association of Colleges and Employers expects to hire 13 percent more graduates from the class of 2013 than from the class of 2012, and many industries are anticipating double-digit increases.

But economists differ on how telling economic indicators, such as the unemployment rate, are. The rate is calculated by finding the percentage not working in the labor force, which is defined as those who are working or who have looked for a job in the last four weeks.

Some economists believe that many unemployed people might be excluded from this count as they have stopped searching for a job. This “discouraged workers effect” would account for the decrease in unemployment despite few gains in job creation. Other economists claim that looking at statistics in a one-month period is not enough to determine the state of the economy. Unemployment is down 1.5 percent from last September, and around 262,000 jobs have been added to the market in the past year.

Students entering the job market will also be forced to compete with more potential workers, however, because many older people who lost money during the recession cannot afford to retire, making their years of experience a factor in the applicant pool.

Martellino stressed the importance of gaining work experience.

“The internship has really become the new interview,” Martellino said.

He said he believes students should not enter the market worrying they will not find a job.

“Don’t let the news on the economy cause delay — prepare and there are opportunities for you,” Martellino said.

2 Comments on “Job statistics bring hopes, concerns”

  1. [...] out from the employment side of things is the underutilization of those with college degrees: “(Daily Trojan) Still, California’s unemployment rate remains the third highest in the country, and the L.A. [...]

  2. [...] out from the employment side of things is the underutilization of those with college degrees: “(Daily Trojan) Still, California’s unemployment rate remains the third highest in the country, and the L.A. [...]

More News

  Daily Trojan Spring Awakening Supplement

Blogs

Daily Trojan Poll

Which headliner did you enjoy most at Springfest?

View Results

Loading ... Loading ...

Archives

October 2012
S M T W T F S
« Sep   Nov »
 123456
78910111213
14151617181920
21222324252627
28293031  

Browse Archives

News

SPECIAL FEATURE: Prof loses tenure bid after appeal

On April 3, Assistant Professor of International Relations Mai’a Keapuolani Davis Cross, who had traveled cross-country from her tenure track position at Colgate University to ...

Center to host more concerts after deal with Nederlander

The Galen Center entered into a deal last week with Nederlander Concerts, a Los Angeles-based company that organizes concerts with venues, to increase the numbers ...

Annenberg creates community pay phones

A group of USC students, community members and local artists in Leimert Park are bringing the pay phone back into service — and hoping to ...

Opinion

’SC sets example in lowering dropout rate

A report sponsored by the Bill & Melinda Gates Foundation reveals that the nation’s higher education system is facing a dropout crisis. Produced in part ...

Should the Guantánamo Bay prison remain open?

The prison must be closed as it stands for hypocrisy and infringes upon international human rights.  One hundred of the total 166 inmates at the Guantánamo ...

The Internet celebrates 20th birthday

Tuesday marked the 20th anniversary of the creation of World Wide Web. The organization responsible for building the Internet, CERN, also created the Large Hadron ...

Sports

Trojans begin three-game homestand against TCU

As the USC baseball team enters the final month of its baseball season 11 games under .500, it can at least feel good that it ...

USC faces North Florida in first round of tournament

For the No. 4 USC women’s sand volleyball team, its entire season has led up to this tournament. The team will finally be put to the ...

Jovan, Monica Vavic earn league awards

When it comes to dominating the competition in the pool, nobody does it better than the Vavic family. Following a season in which head coach ...

Lifestyle

An Exercise in Authenticity

Though Generation Um…includes a star studded cast—Keanu Reeves, Bojana Novakovic, and Adelaide Clemens—this film surprisingly has more of an indie vibe.  Set in New York ...

History behind shakes

Though finals loom as obstacles between now and summer, Ground Zero Performance Café has the perfect solution for both cooling down and serving your study ...

Play creates darker version of J.M. Barrie’s classic tale

Before Disney’s Peter, Wendy, John and Michael flew over “poor Nana” toward Big Ben and continued to the second star to the right and straight ...

Photos

In Photos: Washington comes to USC

In Photos: Washington comes to USC

The Schwarzenegger Institute held an immigration reform forum titled "Washington comes to USC", with U.S Senators John McCain, Michael Bennet and former President of Mexico ...

In Photos: Armenian Genocide

Photos by Ani Kolangian [gallery link="file" ids="66554,66555,66556,66557,66558,66559,66560,66561,66562"]

In Photos: Springfest 2013

Photos by Priyanka Patel. [gallery link="file" ids="65587,65586,65585,65584,65583,65582,65581,65580,65579,65578,65577,65576"]