Northwestern University and Evanston's Only Daily News Source Since 1881

The Daily Northwestern

Northwestern University and Evanston's Only Daily News Source Since 1881

The Daily Northwestern

Northwestern University and Evanston's Only Daily News Source Since 1881

The Daily Northwestern

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Graduating seniors feel pressure of economic slump

David White has submitted resumes to almost 400 companies, reaching final round interviews at four of them.

White said one company strung him along for six months of intensive interviews before deciding to dissolve the position. Even though he began his search in September, he still does not have a job.

White and other college seniors face a national unemployment rate that was 3.1 percent in March — up from 2.8 percent at the same time last year, according to the U.S. Department of Labor’s Web site.

“I’m not especially concerned because I have money from trading stocks, but I never thought it would take this long,” said White, a Weinberg senior majoring in economics.

He said he and his fiancee have no idea where they will live after graduation. “When I get a job, we’ll have to just get up and move,” White said.

Lonnie Dunlap, director of University Career Services, calls the job search a “growing challenge” for college graduates.

“It’s been a difficult job market, similar to last year,” she said. “We expect it will be similar in the short term ahead of us.”

But not all sectors of the job market are suffering. Although jobs in technology fields have been on the decline since the collapse of the 1990s industry boom, Dunlap said, jobs with the U.S. government are a source of new opportunities for students. Hires by nonprofit groups and medical-health services are also up, she added.

But some students, frustrated with the job search, are opting for graduate school. NU Law School Dean David Van Zandt told The Daily the Law School received nearly 5,000 applications this year — up 20 percent from last year.

Some seniors are looking to other employment opportunities, such as the Peace Corps and Teach for America, said Thy Nguyen, assistant career services director for engineering and sciences. Mechanical engineers are having the most trouble finding jobs, he said, but students who work hard and seize opportunities are successful.

“It’s dependent on how much they’re putting into the job search and their past experience,” Nguyen said. “People who have had internships or co-ops are doing better.”

Bain & Co., a Chicago-based business development firm, has hired Alan Schultz to be a consultant once the McCormick senior graduates in June. Between sending resumes and interviewing with companies, Schultz said he spent six to seven hours a week on his job search.

“With a tough job market, you have to take every interview you can get,” Schultz said. “If you’re willing to apply for anything, go for anything, you can find a job.”

The job market also affects alumni, many of whom have returned to UCS for help. Dunlap said UCS provides alumni with special programming for job-seekers and other information.

“The economy changes careers and causes layoffs,” she said. “It has greatly impacted alumni — sometimes more than graduating seniors.”

Despite the economy Dunlap said employers continue to respect NU students’ hard work.

“One of the advantages that NU students have is that many recruiters keep us on the top of their recruiting list,” she said. “NU students are always in demand.”

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Graduating seniors feel pressure of economic slump