The job market for new college graduates will continue to improve slowly in 2013-14, as cuts in the banking and credit industries, as well as political uncertainty, hold back what could otherwise be robust growth, according to a new report from the Collegiate Employment Research Institute at Michigan State University.
Job opportunities will increase by 2 percent across all degree levels, similar to last year’s growth, says the latest annual “Recruiting Trends” report. Its findings are based on a survey of more than 6,000 employers.
Uncertainty over the federal budget and debt ceiling have many employers taking a “wait and see” approach, says the report. Only a quarter of respondents said they had definite hiring targets for 2013-14.
The job market for new graduates could have posted double-digit growth were it not for the financial-services sector, which has been shedding jobs, said Phil D. Gardner, principal author of the report and director of the research institute. <Read more.>