New College Grads and Where the Jobs Are
It’s a tough time to have just graduated in this recession. All the enthusiasm in the world and a pocketful of internships may not be sufficient insulation against the downturn.
According to a press release about the latest Michigan State University’s Recruiting Trends Survey of more than 2,500 companies and institutions, hiring levels are at their lowest levels in several decades. This would help explain an unemployment rate for 20-24 year olds that was over 15% in October, the highest level since the recession began. Some job hunters may be tempted to become entrepreneurs, or at least seek out entrepreneurial companies.
The survey found that while mid and large sized companies (500 employees are more) expected a decrease in hiring, companies with fewer than 500 employees expected an uptick in hiring this year. “These companies are guardedly optimistic about hiring over the next year,” said Phil Gardner, Director of MSU Collegiate Employment Research Institute.
He says that in addition to students focusing on e-commerce and entrepreneurship, other sectors than can expect to see hiring increases include agriculture production, environmental sciences, information systems, statistics, non-profits, nursing and social work and multimedia including web design.
This week, in the New York Times feature, “The Boss,”
I interviewed Michael Chasen, the president and CEO of Blackboard, an online learning company based in Washington, D.C.
Recently I spoke to Elaine Romanelli, Mr. Chasen’s entrepreneur professor at Georgetown University’s McDonough School of Business. Dr. Romanelli’s research focuses on the characteristics of firms and regional industry environments that are likely to promote new business foundings.
Dr. Romanelli offers these observations that would be entrepreneurs and job seekers at entrepreneurial companies may want to consider.
What does your background tell you?
Dr. Romanelli says that people whose parents were small business owners are more likely to be small business owners themselves. And she said, they’ve developed a, “a habit of mind,” which allows them an ability to spot opportunities and know how to turn those opportunities into products.
Leave yourself open to opportunities…
Beyond that, she says serendipity or accidents may also play a role in successful entrepreneurship. Mr. Chasen’s close friend Matthew Pittinsky was enrolled in a Master’s of Education program at the same time Michael was at Georgetown. And it was Mr. Pattinsky who introduced Mr. Chasen and an entrepreneurship project he developed tin Dr. Romanelli’s class to his boss and launching Mr. Chasen’s business career.
Chose your business location carefully…
Lastly, Dr. Romanelli she says context matters…what others might call location. She says there is knowledge and combinatory of knowledge in areas that are populated by specific industries, e.g. the motion picture industry in Los Angeles and start-ups in the Silicon Valley and ringing Route 128 around Boston. It’s important to chose your location carefully.
Recently the Ewing Marion Kaufmann Foundation analyzed U.S. Census Bureau data and found that companies less than five years old created nearly two-thirds of net new jobs in 2007. While attrition for new companies is high, newly created and young companies are the primary drivers of job creation in the United States.
Tags: jobs
