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The
Outlook:
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The recent global economic slowdown has reached historic proportions. Yearly U.S. job loss in 2008 was the worst since 1945, with nearly two million positions shed in just the last four months of the year. While the nation's official unemployment rate hit 7.2 percent in December, 2008, fully 13.5 percent or the workforce was either unemployed, too discouraged to look for work, or working part-time because they couldn't find full-time employment.
An October, 2008 survey of employers (taken before the worst of the downturn) by the National Association of Colleges and Employers (NACE) indicated employers intended to hire only 1.3 percent more graduates in 2009 than in 2008, reflecting the worst outlook in six years. At the same time, roughly 1.5 million students will take bachelor's degrees this school year, up approximatley 41,000 for 2007-2008. Not surprisingly, starting salaries are expected to remain level or decline, according to separate NACE survey. (Wall Street Journal 10/22/2008:D1)
Competition for jobs is fierce and many employers are now
relying on computer tests of skills and personality to screen job
applicants. ... more on personality tests.
The news for political science graduates, however, is not completely bleak. Government work remained one of the few bright spots in the employment picture. Data from the Labor Department indicated an unemployment rate in the government sector of just 2.3 percent in December 2008 (Wall Street Journal 1/10-11/2009). The long-term outlook is brighter still. Roughly half of the nation's
1.9 million civil service workers (not including the postal service
and the military) will have become eligible to retire between 2005 and 2010
(Wall Street Journal 5/24/2005). By 2016, fully 61 percent of current full-time government employees will be eligible for retirement, according to the U.S. Office of Personnel Mangement (Wall Street Journal 10/22/2008:D1). Many potential applicants are discouraged by the lengthy and ardous application process. Others are find the unweildy bureaucracy daunting or prefer the often higher salaries and potential for promotion in the private sector. For those who can overcome such obstacles, however, the rewards may be substantial. ... More info on government jobs ...
Political science grads may also be competitive for positions in three other sectors of the job market that have remained strong: education, insurance, and health. Industry experience is not required at some insurers, and some will assist recruits in obtaining licenses and certifications. "We look across the board for people who are ambitious, collaborative and have great communications skills," noted Matt Hamlet, vice president of talent acquisition at Traveler's Cos., a major insurer. (Wall Street Journal 12/23/2008:D1)
According to
a recent report in the Wall Street Journal, (1/4/2005) while
many employers continue to target business and technical majors,
this doesn't mean they don't want to hire liberal arts majors. It
does mean that you will have let employers know why you are the
job candidate they are looking for!
Today's labor
market is increasingly a global one. Yet, according to a McKinsey
& Co. study described in the Wall Street Journal (6/16/05
A2), while there are already almost twice as many young university-trained
professionals in low-wage countries as in high wage countries (even
before counting health-care professionals), many potential hires
in low-wage countries language skills, ability to relocate, or otherwise
don't fit. Still, the potential supply of suitable talent from the
28 low-wage countries studied by McKinsey exceeds the demand for
offshore talent from companies in high-wage countries.
In short, today,
those job candidates prepared to relocate, possess computer, language,
math, and communications skills, and who can work well with international
colleagues are advantaged in virtually all fields.
More on today's job outlook ...
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" A world 60 years from now in which Chinese schoolchildren
are taught that the U.S. did what it could to speed their economic
growth is a much safer world for my great-grandchildren than a
world in which Chinese schoolchildren are taught that the U.S.
did all it could to keep China poor."
--
Brad DeLong
Department of Economics
University of California at Berkeley
quoted by David Wessel
in the Wall Street Journal, 6/16/05

...
The vast majority of Americans--black and white, poor and middle-class--are
now in the same turbulent sea of economic uncertainty. The Sociologist
Mark Rank has estimated that more than half of white Americans
will spend at least a year below the poverty line by the time
they are 75 (the results are not materially changed by excluding
college students).
--Jacob
S. Hacker
Department of Political Science
Yale University
The
New Republic, July 4, 2005

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