By Craig Howie

Looking at the latest employment data is a sobering lesson in economics for most college grads: Rising unemployment in almost every state, companies cutting back on hiring amid a recession and a general uncertainty about where the economy will go next.

So is it all bad news for grads, or is there some encouraging hiring data out there, and in which fields or cities? How can grads best leverage their smarts into a career path that's sought by employers? And why, in a recession that exceeds even the 2001 crunch in terms of hiring patterns, are new grads turning down some 55 percent of jobs offered to them?

Studies across the spectrum, including those of the National Association of Colleges and Employers and Experience, Inc., consistently point to strong hiring patterns for grads in tech-based fields. Most commonly in demand are engineers, including the fields of mechanical, civil, electrical and computer engineering. Also consistently placing high are jobs in information management, information technology and business administration.

Surprisingly, data also suggest teaching will become one of the most sought after degrees in the longer-term five-to-10-year period, says Edwim Koch, at the NACE.

Pointing out that in many states the unemployment rate is 10 percent or higher, he adds: "The single biggest factor is the economy in general. As unemployment is going to rise there are going to be less openings for college grads. While the layoff rate is comparable to 2001, the new-hire rate is considerably below 2001. Employers are not hiring as they were in the past."

Other factors, he says, include turmoil in the financial services sector and a "lag" effect in the economy that means the drop in hiring likely will impact grads in the class of 2010. Another factor was that the market crash, and resultant 6 percent drop in national GDP, occurred right in the middle of the college recruiting season.

"Accounting is still far and away the major that gets most offers, and the one [field] with most jobs in hand before graduating. Computer sciences follows that and general science degrees, economics and business management make up the top five generated offers.

"Two years ago was pretty much the peak of the market for college grads, with employers fighting over themselves to attract grads. Now the only area we saw some kind of positive was from federal government jobs."

Koch says that this had little do to with a rise in government spending, or an economic stimulus package that's still to kick in, but more to do with public-sector employees retiring earlier -- in general -- than private-sector workers, therefore a nationwide surge in baby boomer retirements kicks in earlier in the federal employment sphere. "This wasn't new jobs, but simply old jobs that needed to be replaced," Koch says.

The NACE's surveys of geographical hiring growth highlight increasing demand for tech workers in Austin, Texas, Silicon Valley and San Francisco, Calif., and Seattle, Wash. Koche says a noticeable hiring drop has occurred in and around New York City and the eastern metroplex. He says most metro areas have grown in relation to an increase in proportion of college grads going to live in a city, with only Cleveland, Ohio, and Detroit, Mich., registering a drop.

Meanwhile, a new survey from Experience, Inc., a website that specializes in tracking college grads' and alumni' employment trends, says that 17 percent of Class of 2009 grads say they had received job offers, according to its 2009 Annual Jobs Survey. This figure is a significant drop from 2005, when 25 percent of grads said they reported offers, while last year's graduates, the survey said, reported a job acceptance rate greater than 30% prior to graduation. Some 55 percent of grads surveyed cited internships as the most effective way to find a job, followed by networking and university career centers.

"The landscape for college hires is not as bad as people fear," says Jenny Floren, founder of Experience Inc., in a release. "While the unemployment rate today is higher than in previous years, many organizations understand that entry-level positions are a critical part of a long-term talent-management strategy which cannot be pushed off."

Koche says the most remarkable thing about his group's study was the fact that just 45 percent of students who received job offers actually took them.

He speculates that reasons for this may include "salary offers that are lower than expected, a location that's too far away from family, or the status that's connected with the job. Student behavior hasn't changed in relation to change in economy." he says. "Employers are telling students they need to be flexible but data tells me they're still along way from accepting they're going to have to be flexible."

Interested in more information on the degrees in this article? Learn more:

• Information Systems & Technology Programs
• Education Programs
• Business Programs