For Class of ‘08, A Scramble for Jobs

Team Unagi:Jessica PotestaAtlantis RichterLauren SeGall

By Anjali Athavaley

Overview The class of 2008 is facing a tighter job market Graduating seniors are re-evaluating their expectations Companies have scaled back hiring growth How these changes reflect the law of supply and

demand How this will affect graduating classes for years to

come

The Current Landscape The U.S. is heading toward an inevitable recession The financial markets have felt the greatest effects Entry-level hiring has been reduced by many

companies Current jobless rate is 5.1%

Graduating Students Re-evaluate First job offers are being accepted Seeking jobs that are less likely to be affected by

the failing economy

Companies Change Hiring Strategies College grades matter Many companies are scaling-back hiring Some business sectors remain robust

Law of Supply & Demand Unchanged supply of desirable workers in some

industries Demand is increasing Graduating students are benefiting from this

change

What This Means for Us Class of 2009 Class of 2010 Class of 2011

FIGURE 5.6 Unemployment Rate, 1970 I–2005 II

Works CitedAthavaley, Anjali. “For Class of ‘08, A Scramble for Jobs.” Wall Street Journal

08 Apr. 2008: D1.Case, Karl, and Ray Fair. Principles of Macroeconomics, 8th edition.

Unknown: Prentice, 2007.Izzo, Phil. “According to U.S. Economy Hasn’t Hit Bottom, Survey Says.” Wall

Street Journal 10 Apr. 2008: A12.Lavelle, Louis. “It’s Looking Grim for New Grads.” BusinessWeek.com. 03

Apr. 2008. Business Week. 15 Apr. 2008 <http://www.businessweek.com/print/magazine/content/08_15/b4079059579345.htm>.

Matsuda, Kazuhisa. Personal interview. 15 Apr. 2008.