Seniors face tightening job market
As some members of the Class of 2001 prepare to enter the workforce, others are already feeling the pressures of the real world and the current economic downturn in the form of job offer retractions. If this year's graduating class is similar to last year's, almost three-fourths of the seniors anticipate employment as their principle activity next fall, while most of the remainder are heading to graduate school or taking a year off. At this time last year, 60 percent of those who said they planned on working had already accepted job offers. With the recent failure of many technology-based firms and continued uncertainty in the stock market, however, the number of employed graduates come this year's Commencement may decrease. Although a survey conducted by the National Association of Colleges and Employers reported that employers planned to hire 18.8 percent more students in the upcoming year than in the past year, almost half of the companies surveyed have lowered their hiring expectations since August.
