Black Collegian's industry by industry assessment of the job outlook for the class of 1996, The

Black Collegian, Feb 1996 by Scheetz, L Patrick, Stinson, Sonya

Members of the Class of '96 searching for the "hot spots" in today's job market should take note: The employment temperature might best be described as "mild" rather than "hot." While the number of jobs for college grads is increasing, so are employers' expectations of skills and performance. Furthermore, thriving industries do not necessarily mean significant job growth.

According to Recruiting Trends 1995-96, a study of 527 businesses, industries, and governmental agencies, "New college graduates of 1995-96 can expect mild growth in hiring intentions. Although new graduates of 1995-96 will face a continuing, troublesome employment market, surveyed employers project an increase of 4.7 percent in recruitment efforts." This year's job market is influenced by a number of factors, including the general economic outlook for the country, efforts to balance the federal budget, the continuation of downsizing, the outsourcing of nonessential business operations, and other business trends.

Employers surveyed for the Recruiting Trends report were invited to list new employment trends or working environments they noticed that might help new college graduates prepare for employment. The outstanding patterns reported included the following:

More downsizing; less job security; greater competition from experienced baby-boomers who were downsized out of jobs; fewer jobs; declining job prospects for management and executive-level positions achieved through layoffs and attrition; less upward mobility because of flattening of organizations.

A faster-paced work environment; work performance using a range of skills versus single-function assignments; more responsibilities assigned to each job; greater demand for flexibility; longer working hours; working on some holidays and Saturdays; expanded general job performance skills; demand for employees who are willing to do it all (multi-skilled); accelerated flow of information. Quicker decision-making required; greater need to learn and develop current skills; getting more done with less.

More importance placed on computer use, interaction, and knowledge; more computerization of work; more technologically advanced work settings; demand for computer literacy; rapidly and continuously changing technologies; Internet access; increased use of electronic media. Greater demand for experienced workers; new college graduates are cheaper to hire but more expensive to train; expect to begin contributing earlier.

More contract, consulting, temporary, and part-time job opportunities; fewer full-time employment prospects for new college graduates right after graduation; may need to start career in a job that does not require a college degree and then work into a degree-required position.

As you can see, becoming familiar with these trends and tailoring your career strategy accordingly are the only ways to ensure success in today's highly competitive, slow-moving job market. "Excellence" and "preparation" must be your watch words if you plan to make 1996 your "Year of Opportunity."

Here is an overview of the job outlook in several major industries and employer categories. Employment figures for 1994 and 1995 are based on the U.S. Bureau of Labor Statistics' October statistics, the latest available at press time. Projections for 1996, with comparisons to 1991 employment, are from "1996 Industry Outlook," BusinessWeek, January 8, 1996. Accounting

Industry Description: The accounting industry prepares and analyzes financial reports and audits that provide clients with the information they need to make financial decisions. Job Outlook: The business services industry, which includes accounting, legal, personnel, and other services, will see a 23 percent increase in employment from five years ago.

Comments: "At present, the job outlook in the accounting industry, and specifically in public accounting, is excellent," says Dennis R. Reigle of Arthur Andersen & Co., SC."In 1995, Arthur Andersen hired more entrylevel recruits than at any point in its history, with 2650 new hires directly from college campuses or with less than two years of work experience. This is true for two reasons: First, there is significant growth in the number of services that we offer to clients.This is the case throughout the industry, as clients increasingly look to their provider of core services such as financial audit and tax advice for additional information-type services.In essence, clients are seeking added value and increased participation in the operations of their businesses.

"Second, Arthur Andersen is growing rapidly as a firm, with global revenues of over $8 billion in 1995, and over 80,000 employees worldwide. Our revenue growth during the year was 18 percent. This excellent job outlooks comes with a high degree of competition for entry-level jobs, and candidates will find that appropriate academic preparation and research into the industry will be necessary to fare well during the interviewing process."

Aerospace and Components