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Empolyer outlook

In a recent study, employers have said that they are likely to be 12 percent more graduates this year than last year. It is the first projected increase since the year 2000. In another study, a projected 60 percent of US businesses plan to employ the same number of graduates this year as with last year. That is an increase of fifty-five percent from last year, according to the CERI (Collegiate Employment Research Institute) at MSU.

Some studies indicate that US Corporations and businesses will employ more graduates with a bachelor’s degree in business, biological and physical sciences; and those with construction management, engineering degrees, health care and accounting will also experience an increase in hiring from their ranks. Other fields will have a slight decline.

Expert advice

On the average, companies are hiring forty three percent of its interns to fulltime and regular positions. The expected increase in the hiring of graduates coincides with an expected growth forecast of the economy next year according to a recent survey by the Federal Reserve Bank. A lot of companies are coming out of a slump and are now hiring their interns and looking for more. A lot of companies are also posting jobs and coming to different campuses on recruiting tours.

Most experts advise that during the holidays, whether you’re looking for permanent employment or internship, it is a good time to step up your search. Take advantage of the holiday events you’re going to attend, discuss what you’re looking for and your goals. Businesses don’t want to be flooded with calls and faxes of resumes. They will probably rely on word-of-mouth to get a handful of candidates and the holidays are a perfect time to network.

What to expect

Companies will hire more students earning bachelor’s degree in business and management, physical and biological sciences. Engineering, health care and accounting degrees also would experience an increase. Other degrees will experience a decrease in hiring

Businesses expect to employ about the same volume of MBAs this year as last year. Businesses have found employees with bachelor’s degrees being able to do some work being done by MBAs.

It will be harder for graduates with computer science degrees to find work.

Companies are more likely to employ students who have undergone internships. The work experience, they say, makes a lot of difference. Federal agencies will employ more graduates but not nearly enough to offset the decrease in hiring by the state and local government agencies.

On average, starting salaries will increase by 1 to 2 percent.


Personal Accounting

If you have a checking account, of course you balance it periodically to account for any differences between what’s in your statement and what you wrote down for checks and deposits. Many people do it once a month when their statement is mailed to them, but with the advent of online banking, you can do it daily if you’re the sort whose banking tends to get away from them.

You balance your checkbook to note any charges in your checking account that you haven’t recorded in your checkbook. Some of these can include ATM fees, overdraft fees, special transaction fees or low balance fees, if you’re required to keep a minimum balance in your account.

You also balance your checkbook to record any credits that you haven’t noted previously. They might include automatic deposits, or refunds or other electronic deposits. Your checking account might be an interest-bearing account and you want to record any interest that it’s earned. It’s also a good idea to check for any errors you’ve made in your recordkeeping or if the bank has made any errors.

Another form of accounting that we all dread is the filing of annual federal income tax returns. Many people use a CPA to do their returns; others do it themselves. Most forms include the following items:

  • Income – any money you’ve earned from working or owning assets, unless there are specific exemptions from income tax;
  • Personal exemptions – this is a certain amount of income that is excused from tax;
  • Standard deduction – some personal expenditures or business expenses can be deducted from your income to reduce the taxable amount of income. These expenses include items such as interest paid on your home mortgage, charitable contributions and property taxes;
  • Taxable income – This is the balance of income that’s subject to taxes after personal exemptions and deductions are factored in.