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CNN Live At Daybreak
Opportunities Tough to Come By
Aired March 07, 2003 - 05:20 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: The class of 2003 is all set to hit the streets looking for a job. But with the economy still weak and so many people already pounding the pavement, opportunities are tough to come by.
CNN's Greg Clarkin reports.
(BEGIN VIDEOTAPE)
UNIDENTIFIED FEMALE: Jobs and internships.
GREG CLARKIN, CNN CORRESPONDENT (voice-over): They're the class of 2003, all set to be college grads and all set to take on the toughest job market in recent memory. They enter the market at a time filled with fear, fear of war and terrorism and fear that a hobbled economy may stay that way for the near future. They've been on the job hunt for months now and they're finding that employers have everything on hold.
UNIDENTIFIED FEMALE: People are not hiring. That's actually what they're telling me, you know, they're like hopefully we, you know, the economy is going to pick up and we will be OK. But right now they're not hiring. They're just taking resumes, you know, collecting that.
CLARKIN: And the experts say it's likely to stay that way.
MARILYN MARKES, EXECUTIVE DIRECTOR, NATIONAL ASSOCIATION OF COLLEGES & EMPLOYERS: As the year has progressed, the employers have gotten more conservative about their hiring. In fact, one of the things that they've told us, the vast majority of employers, about two thirds of the employers have told us that they are reviewing their hiring projections either on a weekly or monthly basis right now.
CLARKIN: This environment is a far cry from when this class entered college in 1999. Just months later, the markets peaked. Shortly after that, the economy weakened. Then came 9/11. Now the perks and signing bonuses their predecessors enjoyed are long gone.
PATRICIA IMBIMBO, CAREER DEVELOPMENT DIRECTOR, BARUCH COLLEGE: Spring of 1999 companies were talking about being in a war for talent and I heard more than one major corporation label it that. And they were actually beginning to recruit sophomores who hadn't even declared a major.
CLARKIN: Career development experts say this year's grads need a plan and persistence and they recommend grads be flexible in everything from salary to relocating, be prepared to take any job available in their chosen field and they're telling students to polish those communications skills and be ready to sell themselves. As for the soon to be grads, many say the message has sunk in.
SHAWN HOLNESS, STUDENT: You have to know that you're not going to get your ideal job in this market. You need to know that even though you may have an outstanding resume, a wonderful GPA, the market is pretty bad and you have to, your main focus should just be to get your foot in the door in the beginning.
CLARKIN: And many students say they know it's a tough road ahead, but they're determined.
UNIDENTIFIED MALE: I like to look at things very positive. So everything will go well. Just give it time.
(END VIDEOTAPE)
COLLINS: But some would say the economy is only getting worse. The government reports new claims for unemployment benefits rose last week to its highest level of the year.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired March 7, 2003 - 05:20 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: The class of 2003 is all set to hit the streets looking for a job. But with the economy still weak and so many people already pounding the pavement, opportunities are tough to come by.
CNN's Greg Clarkin reports.
(BEGIN VIDEOTAPE)
UNIDENTIFIED FEMALE: Jobs and internships.
GREG CLARKIN, CNN CORRESPONDENT (voice-over): They're the class of 2003, all set to be college grads and all set to take on the toughest job market in recent memory. They enter the market at a time filled with fear, fear of war and terrorism and fear that a hobbled economy may stay that way for the near future. They've been on the job hunt for months now and they're finding that employers have everything on hold.
UNIDENTIFIED FEMALE: People are not hiring. That's actually what they're telling me, you know, they're like hopefully we, you know, the economy is going to pick up and we will be OK. But right now they're not hiring. They're just taking resumes, you know, collecting that.
CLARKIN: And the experts say it's likely to stay that way.
MARILYN MARKES, EXECUTIVE DIRECTOR, NATIONAL ASSOCIATION OF COLLEGES & EMPLOYERS: As the year has progressed, the employers have gotten more conservative about their hiring. In fact, one of the things that they've told us, the vast majority of employers, about two thirds of the employers have told us that they are reviewing their hiring projections either on a weekly or monthly basis right now.
CLARKIN: This environment is a far cry from when this class entered college in 1999. Just months later, the markets peaked. Shortly after that, the economy weakened. Then came 9/11. Now the perks and signing bonuses their predecessors enjoyed are long gone.
PATRICIA IMBIMBO, CAREER DEVELOPMENT DIRECTOR, BARUCH COLLEGE: Spring of 1999 companies were talking about being in a war for talent and I heard more than one major corporation label it that. And they were actually beginning to recruit sophomores who hadn't even declared a major.
CLARKIN: Career development experts say this year's grads need a plan and persistence and they recommend grads be flexible in everything from salary to relocating, be prepared to take any job available in their chosen field and they're telling students to polish those communications skills and be ready to sell themselves. As for the soon to be grads, many say the message has sunk in.
SHAWN HOLNESS, STUDENT: You have to know that you're not going to get your ideal job in this market. You need to know that even though you may have an outstanding resume, a wonderful GPA, the market is pretty bad and you have to, your main focus should just be to get your foot in the door in the beginning.
CLARKIN: And many students say they know it's a tough road ahead, but they're determined.
UNIDENTIFIED MALE: I like to look at things very positive. So everything will go well. Just give it time.
(END VIDEOTAPE)
COLLINS: But some would say the economy is only getting worse. The government reports new claims for unemployment benefits rose last week to its highest level of the year.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
