Healthy Labor Market for New Grads, But Pay Remains Steady

Continuing the strong hiring demand seen for last year’s graduates, the class of 2007 will soon enter an even healthier labor market, according to MonsterTRAK’s annual nationwide survey of college students, recent graduates, and entry-level employers.

Among the findings, 76% of employers plan to hire 2007 graduates in the spring or summer, up from last year’s 72%, and 38% expect to recruit more entry-level candidates than in 2006.

Data from MonsterTRAK, the student division of Monster, also demonstrates that seekers are confident as well, with 89% of prospective graduates expecting to receive at least one job offer by graduation, while 74% expect two or more offers, a 10% increase over 2006.

However, MonsterTrak says that despite strong demand for graduates, job seekers shouldn’t feel too entitled in their job search, since employers anticipate 73 applications on average for each available entry-level position.

In addition, 63% of employers indicate 2007 entry-level wages will not increase over last year’s earnings.

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“This year’s MonsterTRAK survey demonstrates that while demand for talent is on the rise, employers remain confident they will have a large number of candidates to consider for each open position,” MonsterTRAK general manager Julie Goldthwait said in a release.

Consequently, rather than increasing wages to attract entry-level candidates, employers are identifying talent at earlier stages, such as through enhanced internship programs.

This entry-level job outlook, conducted between February and March, included the results from more than 985 employers and over 2,545 students.

Elaine Rigoli has nearly 15 years of experience managing content and community for various B2B and consumer websites. Elaine has written thousands of business and technology articles and has been quoted in The Wall Street Journal and eWeek, among other publications.


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