MSU Today on Impact Radio: The job market for college graduates has bottomed out – falling some 40 percent in the past year– as the market undergoes a colossal shift that demands graduates be flexible and entrepreneurial in the rapidly evolving global economy, according to Michigan State University’s latest Recruiting Trends survey.

Job growth in electronic commerce illustrates this shift. Employers are hiring critical-thinking graduates with the skills to capture more Internet business and help the company continually redefine its operation, says Phil Gardner, director of MSU’s Collegiate Employment Research Institute, which conducts the annual study.

“Employers want to be much more flexible; they want to be agile,” Gardner says. “They’re bringing in employees who can slide in multiple directions depending on what transpires over the next year. And that opens the door for students from a variety of academic backgrounds.”

Ultimately, while many employers tell Gardner they hope to see the economy rebound, he says folks need to understand things will not return to “normal” – that is, a labor market in which college graduates have their pick of high-paying jobs. The recession, combined with increasing global competition, means graduates will continue competing for fewer jobs with lower salaries and benefits.

Kelley Bishop, MSU’s career services director, says it’s imperative that students get aggressive about their futures early in their college careers by networking with prospective employers, landing internships and developing critical thinking skills. He said this cuts across all majors – from engineering to liberal arts – because employers are worrying less about a student’s major and more about whether they can solve problems and think outside the box.

“The premium is being placed on flexibility and adaptability,” Bishop says, “because this change in the labor market looks like it’s permanent. And those who can quickly adapt are the ones who are going to survive through this and prosper through this.”

Hosted by Russ White.

Hear the Conversation 22:13 – 12.8 mb mp3