University Daily Kansan / Friday, April 26, 1991
5
Job market still shrinking Seniors advised to be patient flexible when looking for jobs We've noticed we've to'
By Eric Nelson
Kansan staff writer
When KU graduates walk down the hill in May, it will mark the end of their college struggle and battle within the system.
If they have not found out already, their battles have only begun outside the system.
According to an article Monday in The New York Times, the job market is "the bleakest job market in a decade or more, especially in the New York region and the rest of the Northeast."
The article by Robert McFadden said the market had shrunk up to 30 percent.
KU officials who work in job placement agree that times may be a little more difficult.
Terry Glenn, director of the University Placement Center, said it would be difficult to know how well KU graduates would fare until after the summer, when all positions would be filled. He said some jobs, such as those in education, were not offered until in the year.
But he said it was a slower market than usual.
"It's a little more conservative market, I think, than what we had before."
"They need to be willing to look at all the options," Glenn said.
He said students waiting for jobs had to be patient and flexible.
Susanne Shaw, associate professor of journalism, said that although in the past graduates had looked for full-time positions, they now were being advised to accept internships andships evolved into full-time positions.
"Even people from the newspapers are saying that," she said. "Times are still difficult. Advertising is still down. That one's of the keys."
Fred Madua, director of the business placement office, said he had noticed the thinness and caution present in the market.
"We've noticed we're going to be down on the number of companies coming to campus," he said.
Early signs reveal that business students are doing all right in finding
director of the business placement
work, Madaus said. It is also not uncommon for a surge of positions to open up late in the year.
He also stressed that flexibility was important in landing a position.
"June Unnungman, director of an engineering career service center. Students in the department students would be drastically affected by the recession.
"It doesn't so far look like we're going to see any difference from any other year," she said.
The recession appears to be hitting certain majors and parts of the country, she said.
Cunningham said that despite the situation in the market, students with high grade point averages and who have an easier edge have an easier time finding work.
"Those students are always in demand no matter what," she said. "They're kind of recursion-proof."
Bush calls for lower interest rates
The Associated Press
WASHINGTON — The Bush administration, confronting further weakness in the U.S. economy, yesterday pressed for reductions in U.S. and foreign interest rates as a way of the world out of a global recession.
The administration effort came as the Labor Department reported a big surge in the number of U.S. citizens filing unemployment claims. The National Bureau of Economic Research said that the recession officially started in July — meaning a downturn was under way even before the oil price shocks that came after Iran's invasion of Kuwait.
ing our own
Speaking to reporters in the Oval Office, President Bush said, "We want to see these interest rates down a little bit, and I think that would be good for the world economy, includ-
The president's call for lower interest rates came as the Labor Department issued a bleak jobless-claims report, saying the number of new Americans seeking unemployment by 47,000 in the second week of April.
The sharp increase brought the number of first-time claimants back to the half-million mark and was viewed as especially disappointing to economists who had hoped to see a third straight week of declines in the unemployment rate. In said, would have been a clear signal the recession would soon be over
"I think that we buried the recession prematurely, and the data is now showing that the recession is over," said the chief economist at Nikko Securities.
called for lower interest rates as a way to fight the recession, and in a series of moves last fall and early this winter, the Federal Reserve did drive interest rates lower to stimulate economic growth.
Bush and his aides repeatedly have
However, the Federal Reserve's easing efforts came to a halt in early March amid reports of a deep split inside the central bank regarding further easing might trigger higher inflation once the recovery began.
Treasury Secretary Nicholas Brady and other administration officials have insisted that the Federal Reserve economists were being overly concerned about inflation and the real problem was making sure the U.S. economy is united States did not deepen and in turn drag the world economy down.
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