July 2008 Lawlor Focus

What to Emphasize During a Recession

Under the headline "Job Outlook Continues to Worsen," CNNMoney.com reported that last month's Employment Trends Index produced by The Conference Board "points to continued and steeper job losses and rising unemployment ahead." While this is bad news for the economy as a whole, colleges and universities have traditionally seen a bump in enrollments (particularly to their graduate programs) during times of high unemployment, as laid-off workers seek retraining. Yet, as The Chronicle of Higher Education (subscription required) noted, "When recessions strike, as they have most recently in 2001 and 1991, the economic duress can hit the wallets of low- and middle-income families, making it harder for them to send their children to college. This year such families also have to face inflation, and the costs of gasoline and eggs will be on the minds of those pricing colleges."

Higher education marketers are tapping into this mindset, reinforcing the value proposition of attending college by putting possible job outcomes front and center. For example, prospective students who subscribe to The Princeton Review Recruiter Service received an e-mail last week with the subject line "Recession-Proof Careers." It noted, "Despite a weakening economy and higher unemployment rate in the U.S., there are industries and professions that are expected to remain strong," and highlighted those fields in this manner:

• Education—The U.S. Bureau of Labor Statistics has historically shown teaching to be relatively recession-proof.
• Environmental Sector—There is a rapidly growing industry to fight climate change and help solve the energy crisis.
• International Business—The Euro is strong and the European Union's economy is robust. China and India are booming.
• Health Care—As the largest industry in the U.S., health care is also the fastest growing. Between 2004 and 2014, 3.6 million new jobs will be created, more than [in] any other industry.

Even before the national economy took a turn for the worse, post-graduation career prospects were top-of-mind for students conducting college searches. In the past four Cooperative Institutional Research Program (CIRP) annual surveys, first-year students have been able to select "This college's graduates get good jobs" as a reason for choosing their college. The percentage of students attending four-year private colleges who consider that item "very important" has hovered between 52.7 and 55.5 percent, and will likely increase during a recession.

Lawlor Recommends

As we observed in last month's Lawlor Focus, some colleges and universities are more aggressively marketing their career services to prospective students, and this makes good sense given the nation's current economic woes. Not only should institutions highlight their support services for job seekers, their grant funding of internship opportunities, and the successful career outcomes of their graduates, but they should also tout the majors and departmental programs that feed into careers with favorable occupational outlooks. You can view tables from the U.S. Bureau of Labor Statistics to research projected job growth in fields that require a bachelor's degree. (The tables also show median salary levels, which are especially relevant to students who expect to graduate with large amounts of student loan debt.)

Also check the "Job Outlook 2009 Fall Preview," slated for release by the National Association of Colleges and Employers (NACE) later this summer, which features a survey of employers' hiring intentions. In the past, its report has revealed that the top five qualities employers seek in graduates correlate with the traditionally recognized outcomes of a liberal arts education: communication skills, a strong work ethic, teamwork skills, initiative and interpersonal skills. During times when the families of prospective students are anxious about the educational investment they're making, it helps to augment your stories about job outcomes with persuasive, data-driven statistics.

In the news

The New York Times published a feature this month about the effect of rising fuel prices on college students who live off campus. Noting significant enrollment increases in online courses, it reports that many of these students are seeking to cut commuting costs by studying online. Meanwhile, Inside Higher Ed reports an increase in the number of juniors and seniors who are choosing to live in campus housing to save money.

Did you know?

High Point University (North Carolina) has a Director of WOW! who is "tasked with creating a ‘wow factor' on campus" by "suggesting new projects or features that will create a dynamic and progressive atmosphere," as the University's original press release stated. National Public Radio reported this month that the director has already initiated perks for students that include valet parking, free snacks, a hot tub and ice cream trucks.