Graduate Careers Australia
ergo - Number 95 June 2004
US Labour Market Update
The prevailing message to come from the latest NACE Spring Salary Survey, published late in the first half of 2004 in the United States, is one of cautious optimism. NACE, the National Association of Colleges and Employers, is the peak body for graduate employment in the US, conducting research into employment and salary outcomes for graduates of US universities. Graduate prospects appear to be strengthening late in the first half of 2004, underlining the more receptive market signalled in the NACE Winter Salary Survey at the start of the year. Salary increases were reported for more than half the disciplines surveyed, as well as a steadying of demand in many areas.
There were some interesting starting salary outcomes for some graduates in traditionally "in-demand" fields, such as management information systems which took a small dip, and communications where starting salaries dropped over 12 per cent. However, the increase in computer science and information science graduates’ starting salaries was encouraging, as well as civil engineering which experienced a 1.7 per cent increase overall.
Employer activity in the US graduate market (reflecting the Australian experience) appears to be ramping up, with an increase in careers fair attendance, more interviews being conducted on-campus and a significant increase in online job postings. Hopefully this more upbeat mood will continue in the coming months as the US economy continue to rally and Australian economic growth continues to strengthen.
Dugald McNaughtan
Communications Coordinator, GCCA
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