Private Sector cuts 250,000 Jobs

Reuters reports that jobless claims are at a 16 year high, and the economy isn't expected to start recovering until later next year.

Watch an AP Video summarize the situation. Read Paul Krugman's assessment of the "depression economy."

Photo by cliff1066.

Students and Families Finding College Unaffordable

The annual report, Measuring Up 2008, from the National Center for Public Policy and Higher Education found that while family income has risen 147% since 1982, the cost of college has far outpaced those gains by increasing 467%. Student borrowing has doubled, and we are at a point where older Americans are more educated than younger Americans. The US ranks 10th in the world now in terms of population with post-secondary education.

What may be even more illustrative is the percent of family income that goes to college education compared to ten years ago, and the statistics that lower income families actually receive less aid that upper income families. The New York Times has an excellent summary if you want to start with an overview.

Nonprofit Hiring Freezes

Our own Robert passed this information along. From The NonProfit Times:

Almost one in five nonprofits that responded plan a hiring freeze while 13 percent plan a reduction in their marketing budget, 8 percent a reduction in staff, and 6.5 percent a reduction in programming. More than 21 percent
responded with “other” changes, which included among other things, a four-day work week, 5-percent cuts in all budget areas, not hiring a major gifts officer, a one-year wage freeze, reducing health insurance benefits, and postponing the announcement of or at least reviewing plans for a capital campaign.

And of course Joan passed along the sad news about the Everett Public Service Internship Program closing down.

Photo by Stewart Heath.

Malcom Gladwell's 'Outliers'

Malcom Gladwell’s new book, Outliers, was released last week. I read it over the weekend, on the theory that I had roughly 60 days — 90 at the outside — before I’d heard it referenced at so many conferences that mere mention of the central anecdotes would cause me to reach for a hotel pen and stab myself in the eye as a distraction from the pain. I believe the medical term for this is “Thomas Friedman Syndrome.”

From Chronice of Higher Ed
Kevin Carey is the research and policy manager for Education Sector.

Fearing the numbers With the job market pendulum swinging away from them, job candidates are reluctant to reveal their salary histories and demands

Washington Business Journal - by Jennifer Nycz-Conner Staff Reporter

When Robert Williamson finished his master’s in business administration in the early 1990s at the Wharton School of Business at the University of Pennsylvania, he believed his shiny new credential came complete with the promise of a job for life.

“That’s not been the case,” said Williamson, who asked that his name be changed due to a continuing job search. “It’s been disappointing, and quite frankly I’m embarrassed, if not ashamed … that I’m out of work.”

Williamson, a management consultant who moved his family to the Washington area in 2002 from the San Francisco area, once had a minimum salary requirement of $200,000. He scaled it back when he entered government consulting and is about to lower it again, after being laid off from BearingPoint Inc.

Although job candidates have always dodged the inevitable salary question presented by hiring managers, their reasons for doing so are changing with the slowing economy. When employers were struggling to find talent, job candidates would typically avoid giving an opening number to negotiate a higher salary. But now that companies are slowing hiring — and in some cases laying off people — the pendulum has swung toward employers. Applicants who are willing to take a pay cut are afraid of getting screened out on salary alone. They are worried less about gaining salary increases — and more about just getting a salary.

Will USA TODAY job cuts reach interns?

Here's a copy of the memo sent to staff. There will be about 20 job cuts including "volunteers." Anyone have any word on this?

Photo by TheTruthAbout

How to get an Obama staff job

In this Andie Coller piece in Politico, it's refreshing to see the blend of tongue-in-cheek bribery suggestions with good, basic, what makes sense to get hired advice. Jim Messina is the director of personnel for the Obama transition team and he says,

“I believe that politics is truly a merit-based world,” he told High Country News magazine in August. “If you work hard and you’re honest — and you keep winning — you’ll get to rise. [In my early political jobs,] I was the kid who was the first in the office and the last to leave. And it’s still kind of true. ... I’ve been chief of staff to three famous members of Congress and I work for a fourth, and when [each] hired me, I don’t think any of them even asked me where I went to school — they just asked me what I had done, and I love that.”

That doesn't help us for admissions, but it does help with regards to what we tell students to get out of their experiences: EXPERIENCE! A light-weight internship at a big name won't cut it here. Name-dropping and enthusiasm won't cut it, but a record of results will.

Photo by Quinn Dombrowsky

Economy Chills Hiring Prospects for College Graduates, Report Says

Economic news is dismal these days, and college graduates' job prospects are no exception, according to a report scheduled to be released today by the Collegiate Employment Research Institute at Michigan State University.

The university plans to make its report, "2008-2009 Recruiting Trends," available on the Collegiate Employment Research Institute's Web site.

Hiring for graduates at all degree levels will decrease by 8 percent over last year, says the annual report, which is based on employers' projections.

In this tight market, the best advice for students is to line up a job now—if not sooner, said Philip D. Gardner, director of the Collegiate Employment Research Institute. Many employers, contending with economic uncertainty, are looking to complete their hiring as soon as possible, he said.

Henry Jenkins, Prominent New-Media Scholar, to Leave MIT for U. of Southern California

Henry Jenkins III, co-director of the comparative-media-studies program at the Massachusetts Institute of Technology, has turned himself into something of an online celebrity by studying online celebrities, and now he’s headed to Hollywood. Today Mr. Jenkins announced on his popular blog that he plans to leave MIT after this academic year to take a position at the University of Southern California.

U.S. recession will last 14 months: Fed survey

Reuters reports that Philadelphia's Federal Reserve Bank's quarterly Survey of Professional Forecasters "also predicted non-farm payrolls would shrink by an average 222,400 per month during the last quarter of the year, nearly five times the pace of monthly job losses forecast when the previous survey was taken in August."

Photo by Alan Turkus

We could do better: From Co-Worker to Boss

Here's a little piece by Fred Whelan and Gladys Stone on what to do when your colleague becomes your supervisor. It's just 5 quick points, a no brainer for us, but it got me thinking: maybe WE should be doing more writing like this! We're getting lots of media requests, if you have an idea, maybe we could work with Media Relations and issue press releases . . . just a thought.

The points?

1. Offer support
2. Don't be two-faced
3. Take orders with a positive attitude
4. Be patient
5. Keep your friendship

Their new blog on The Huffington Post "is a new regular feature focusing on career issues."

Photo by Bart Everson

Citigroup job losses 75,000 since October

A cut of 53,000 was just announced in this AP story and is on the Citigroup website. Last month, they announced the elimination of 22,000 jobs, taking their workforce down 20% since 2007.

Yet they still have 100 positions posted for new graduates here.

Great Advice for Job Seekers

This article by Anne Kadet in the New York magazine gives us three succinct case studies (Bear Stearns refugee, returning mom, and new MBA) and succinct take-aways from each situation. Highlights included:

• Stand out!
• Think about where the need is NOW and fill the void
• Consider high level temp jobs
• Killer cover letters
• Linked-In for networking
• Make profiles and résumés Google-able

New Media Post-Election Job Opportunities

So we may not have any hot leads for Cabinet-level positions for currently enrolled students, but Lorelei Kelly suggests, "Bloggers: Get Thee to Congressional Staffs!" in a nice piece in Huffington Post. She writes:

You twenty-somethings who are reading this, if you can't take your day job after being part of such a political earthquake like last week's election, go find your local Member of Congress and apply for a job. Take the district job over one on Capitol Hill. Even though DC is as giddy as that prisoner in Plato's Allegory of the Cave--you know, where he is chained immobile to a wall for years--and then gets taken out to see the sun--the states are still where the most important action is going to be found because influential citizen input is a missing link for many issues on Capitol Hill. Then, when you write your letter to the Chief of Staff or mobilize your contacts, bill yourself as a "New Media" or "Citizen Participation" Specialist. The great thing about
being part of a new movement is that you get to make up your own job title. You will know more about how this election was electronically organized than anyone working in the office (but don't brag about it). In fact, apply for the job advertised, and sell your qualities for fulling those requirements, but come with a creative plan about how you are going to keep the citizens of the district involved and inspired. There are many resources available today that make national priorities relative to local concerns. Here are three that I use: the state report cards of the American Society of Civil Engineers, the bioterrorism defense report card from Trust for America's Health, or GreenReportCard. In fact, if you need a place to start, just google your issue together with "report card" and you'll get some good stuff. Don't forget the insanely useful Sunlight Foundation.

By the way, she also reports that Change.gov, the transition website, has received over 60,000 applications.

Photo by Annie Mole

CHANGE . . . and its Career Center Implications

It's been less than two days since Barack Obama became President-elect. And with that comes transitions and new jobs. The Washington Post reports:

If President-elect Barack Obama makes good on his campaign promises, the federal government may be headed for a major shakeup, including the reassignment of many middle-managers, a sharp reduction in the number of outside contracts, and new performance standards for workers.

His "Blueprint for Change" describes proposals which may or may not be embraced and have implications for possible jobs.

Where can someone go if they want to be considered for a non-career position in the Obama administration? Change.gov is the website to indicate one's interest. Complete the online form, and the site promises an email in the near future detailing application processes. The site also has a section on service with calls to expand Peace Corps and AmeriCorps.

And what of the lobbyists? "Aftershocks Hit K Street" sums up the transitions taking place within Washington lobbying firms and with business trade groups.

Vote!

U. of Missouri President Gives $1-Million for Virtual Meeting Rooms

U. of Missouri President Gives $1-Million for Virtual Meeting Rooms

The president of the University of Missouri system is donating $1-million to help finance a project to link students, professors, and administrators at the university’s four campuses by creating virtual conference rooms, the St. Louis Post-Dispatch reports.

The president, Gary Forsee, and his wife donated half of the $2-million needed to install the new high-definition Cisco TelePresence system, which officials expect will save time and money by reducing the number of trips taken between campuses. Mr. Forsee, a former chief executive of Sprint Nextel, became the system’s president last February. —David DeBolt

Matt referenced this article . . .

Read Joseph Stiglitz's Vanity Fair article, "Reversal of Fortune," for a sense of "shifting ideological sands" that Matt referenced in his informal talk to us about the economy last week.

New Media: Ads on X-Box!

The candidates have chartered new territory with outreach via new media, something our SOC and SPA students should be especially interested in knowing! Here's the latest: Obama ads on X-Box!

Maybe AU should start recruiting via X-Box, or create a thrilling internship-seeking game! Find the AU Career Center! Dodge the home offices! Escape from the sketchy job descriptions! Go one-on-one with your advisor! Ace the interview! We could advertise the Career Center drop-in locations, or AU Career Web!

Students worry about financial crisis and their futures

The Chronicle of Higher Education has a video interview of students at George Mason U. and Northern Virginia Community College talking about the financial crisis and how it may affect their ability to pay for their education.