Pitt faculty have hope despite economy

‘ ‘ ‘ The economy might be hurting, but Pitt professors and advisers insist that there’s no… ‘ ‘ ‘ The economy might be hurting, but Pitt professors and advisers insist that there’s no reason for students to lose hope. ‘ ‘ ‘ ‘If your dream is to go to New York and work on Wall Street, that may not work right now,’ said J.P. Matychak, director of the Career and Development Center for the College of Business Administration. ‘Your goal doesn’t need to change, but your path to your goal does.’ ‘ ‘ ‘ More than 2 million people lost their jobs in the last four months of 2008. The unemployment rates for recent graduates with bachelor’s degrees is estimated to grow from the current 3.4 percent to 4.1 percent in 2009 alone, according to the National Association of Colleges and Employers, which used statistics from the Bureau of Labor Statistics for its analysis. ‘ ‘ ‘ Until President Barack Obama’s $825 billion economic stimulus package takes effect, Matychak advises students searching for jobs to start early, readjust their expectations, network and be flexible. ‘ ‘ ‘ ‘This is the toughest job market for new entrants that I can remember,’ said Dave DeJong, chairman of Pitt’s economics department. ‘There are more people searching for jobs than there are jobs.’ ‘ ‘ ‘ While applying for jobs, students need to broaden their search. Because the economy no longer favors job-seekers, more people are moving. It’s important to expand the job search from local to nationwide, said Matychak. ‘ ‘ ‘ ‘If you planned on staying in Pittsburgh or your hometown, you may have to move,’ said Matychak. ‘ ‘ ‘ Aside from the intense competition among peers, new entrants must also compete with the victims of the economic downturn. People with college degrees and years of experience are now in the same pool of applications. ‘ ‘ ‘ ‘The people getting laid off are also looking for jobs,’ said Torsten Jochem, a graduate student in economics department. ‘And they are most likely to get hired over a recent grad with no work experience.’ ‘ ‘ ‘ Pitt’s Career Services consultants hope students use their office to gain the experience and skills they need to land a job, said Lynn Rosen, a consultant for Career Services. ‘ ‘ ‘ The office offers job shadowing, mock interviews, etiquette dinners, resume and cover letter building workshops, and career and internship fairs. ‘ ‘ ‘ ‘We want students to utilize this office,’ said Rosen. ‘The more students use our office, the better shape they will be in.’ ‘ ‘ ‘ These signs of the times, though grim, have caused some students to take a definitive look at their future. Pitt senior Joe Lombardo, who is majoring in bioengineering, has already begun his job search and said it’s been a struggle. ‘ ‘ ‘ ‘I apply on company Web sites. I use search engines, and career services are also helpful,’ said Lombardo. ‘But, you have to be your own search engine.’ ‘ ‘ ‘ Some students have different plans entirely. Carolyn Clements, a senior in the College of Business Administration, is a member of the university’s ROTC program. She will leave for training in September. ‘ ‘ ‘ ‘If I was a civilian, I would be afraid [of the economy],’ said Clements. ‘But I know I will have a secure job with benefits and a life insurance plan.’ ‘ ‘ ‘ ‘ ‘ ‘ Some students are choosing to delay their journey into the job market, choosing to go to graduate school instead. ‘ ‘ ‘ ‘ ‘ ‘ DeJong said he and his colleagues have noticed a large increase in the number of Pitt students going on to graduate school. ‘ ‘ ‘ Brigid Cakouros, a senior English writing major, plans to go on to graduate school after April. ‘ ‘ ‘ Kolade Akanni, who graduated this April with a bachelor’s degree in health and information management, has been working various temporary jobs in Maryland, but plans to go back to school for a graduate degree. ‘ ‘ ‘ ‘The opportunity cost of staying in school is lower than ever,’ meaning that students lose less money by staying in school instead of going into the workforce, said DeJong. ‘It is a good indicator of the times.’ ‘ ‘ ‘ Ray Jones, an assistant professor in the College of Business Administration, warns that students need to be realistic and honest in their job search. [Editor’s Note: Jones is a member of The Pitt News Advisory Board] ‘ ‘ ‘ ‘Ask yourself, what is going to be reasonable in the future?’ said Jones. ‘And look for jobs that will take you to that next level.’