Ohio Foster Care News: September 2011

Employment rate of young adults lowest since 1940s
Job market fluctuates for college grads
Poturalski, Hannah. Hamilton Journal, September 27, 2011

State and local unemployment numbers showed a decrease last month for the first time in two months, but what gets lost in those figures are the number of young adults without jobs.

Employment among young adults 16-29 was 55.3 percent, compared with 67.3 percent in 2000, according to U.S. Census data obtained by this newspaper.

It’s the lowest since the end of World War II.

“We have a monster jobs problem, and young people are the biggest losers,” said Andrew Sum, economist and director of Center for Labor Market Studies at Northeastern University. “Really high levels of underemployment and unemployment will haunt young people for at least another decade.”

Vladimir Ayzenberg, who graduated from Miami University in May 2011, has been working as a pharmacy technician in Columbus. He’s happy to have a job but continues to job search for an entry-level position in marketing.

“It’s going. Nothing yet, but it’s going,” Ayzenberg said of the search. “It’s not easy.”

Ayzenberg, 24, went to four career fairs while attending Miami and returned this month for the most recent one on Sept. 21. Ayzenberg also utilized the university’s CAREERlink as a resource and said his classes prepared him well by incorporating resume building and preparation for interviews.

“The first couple (employers) to go through are intimidating and then you’re more relaxed and willing to talk,” Ayzenberg said. “Miami did a great job; it’s by far the biggest I’ve seen.”

Sum noted that for recent college graduates getting by as a waiter, bartender or doing other odd jobs, they will have to compete with new graduates for entry-level career positions when the job market does improve. The chances of recent college graduates finding jobs is also affected by the increased number of older folks staying in the labor market.

People age 65 and older tended to return to or stay in their jobs, accounting for the few employment gains in recent months. About 1 in 6 older people is in the labor force. That’s the highest level since the 1960s, before more generous Social Security and Medicare benefits made it more attractive to retire.

Tracy Bolander, global director of talent acquisition for Owens Corning — a global producer of fiberglass materials such as insulation — said medium- and large-sized companies must continue to build up a younger workforce.

“An entire generation of baby boomers are getting ready to leave the workforce and we’ve got to be ready to replace that,” Bolander said.

A Miami University graduate herself, Bolander said Miami is one of Owens Corning’s “core” schools for recruiting workforce, especially from the finance and accounting programs. The company attended the September career fair — one of the university’s largest with 200 employers.

Bolander’s advice to college graduates: attend job fairs; don’t focus solely on the Internet; have leadership experience in athletics, community service or clubs; maintain a high grade point average; and study the company you’re applying to.

Miami senior Rebecca Hammond — a marketing major with a sociology minor — has started her job search in preparation of graduation in May.

“It’s scary,” she said of job hunting. “It’s good practice to talk with recruiters.”

Hammond, 21, said it’s things such as having a unique resume, an internship under her belt and connecting on a personal level with recruiters that she hopes make her stand out as a candidate.

The National Association of Colleges and Employers — a nonprofit organization linking college career services and employers of new college graduates — conducts annual surveys on items such as starting salaries and hiring rates.

Earlier this year, NACE reported employers anticipated hiring 19 percent more new college graduates from the class of 2011 than the previous year.

“This is the first time since 2007 that we’ve seen a double-digit increase in spring hiring projections,” said Marilyn Mackes, executive director. “That’s a good indication the job market for new college graduates is gaining momentum.”

Dave Sylvestre, spokesman for Textron Inc., said the company has recruited at college career fairs for decades, including Miami.

“We’re in very technical markets — making jets and helicopters — and need a continuous influx of talent to support that,” Sylvestre said. “We have experienced people with us for decades and a good number are coming up to retirement age. In order to maintain competitiveness we constantly look for new talent and ideas.”

Sylvestre said Textron has a leadership development program where new hires can rotate through jobs within the company to gain different experiences.

He said by 2012, Textron will increase its number of summer engineering internships from 120 to 240. These interns are primarily hired through career fairs, Sylvestre said.