Amid the numerous headlines of a downfall in America’s financial market, St. John’s seniors need to know the details of the economy and how their futures are personally going to being affected.
Over the past few months, senior Matthew Schoenstein has found some theories about the economic downturn from his courses.”I can’t honestly say I know how it started,” Schoenstein said.
“I think part of [the crisis] comes from the war and spending money abroad instead of here. But as a history major, I think it’s something we are going to learn from.”
Beyond the immediate fears, there are reasons to be optimistic about the future. A New York Times headline from Oct. 3 read, “159,000 Jobs Lost in September, the Worst Month in Five Years.”
Though job availability is tightening due to unemployment, many new college graduates will be entering the workforce with skills still being sought out for hire.
During the Career and Internship Fest on Oct. 8, the Queens campus hosted more employers than any previous fall fair with record numbers for student turnout, said Jennifer Friary, the Associate Director of Employer Engagement at the Career Center.
Friary also noted that according to a survey of employers by the National Association of Colleges and Employers, 95 percent prefer to hire new graduates with some work experience in their related field and they often look within their own internship pool when new positions open up.
Fields that are not promising at the moment are ones entwined with the controversy in question.
This includes the banking sector of business as well as retail, especially associated with cars and houses.
While, at the moment, loans are hard to come by and stocks are shaky, there are potential benefits to college students who are looking on the bright side. After graduation commences on May 17, St. John’s alumni can still look forward to finding jobs available to them because of the ever-present need for skilled labor and cheap wages that recent grads are seen to be.
Remember that young adults usually begin in the work force at entry-level pay.
If it’s an expanding economy with more opportunities that one is looking for, there are plenty of locales that are becoming just that.
A New York Times graphic from Oct. 5 shows that there are multiple metropolitan areas that are expanding even during this rough time.
Those include Boston and Washington on the East Coast, Houston and Oklahoma in the South, and San Jose and Seattle in the West.
Their economies are growing while New York, on the other hand, is at risk for recession.
Careers reliant on health care, energy and education are most dependable at this time, according to Andrew Gledhill, a representative for Moody’s Economist. However, School of Education student, Charaun Wills may be postponing her plans for graduate school due to the economy. “With everything that’s happening, I heard it’s going to be hard to get loans for school, so I may just have to work for a while” she said.
Although this is a time of uncertainty, seniors have a positive outlook on their future that is comming quickly.
The overall theme among seniors’ thoughts is that they’re going to have to be flexible and patient.
“Right now it’s a lot tougher to get jobs,” said Ela Gray, a senior Biology major.
“But I think things will get back together eventually. I think the economy is just going through its ups and downs.”