This post was written by Hatchet reporter Emma Atwood
This year’s graduates will again enter a sluggish job market this year, but could see higher starting salaries for the first time since 2008, a new report predicts.
The stagnant growth mostly stems from D.C. politics, where gridlocked budget and debt ceiling talks have forced employers to “wait and see,” the report from the Collegiate Employment Research Institute at Michigan State University. That survey included more than 6,000 employers nationwide.
Job openings are projected to increase just 2 percent this year, impacting government and financial sector jobs the most, according to the report. The banking and credit industry will see the biggest cuts, the report predicts.
But there’s good news, too. About one-third of employers pointed to increasing starting salaries this year – the first sign of rising wages since the 2008 recession.
“We are finally seeing the recession’s grip on starting salaries ease,” the report said.
About 25 percent of employers surveyed said they had set hiring targets for 2013 and 2014.
The report says it will be worse for graduates with advanced degrees, predicting a 24 percent decrease in hiring for MBA students.
Students graduating with master’s degrees in other fields will likely see 4 percent fewer job opportunities compared to the previous year. Part of that decline, the report shows, is a result of fewer government opportunities.