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| Economic Fears Driving College Grads Out of the US and to The Far East |
| Written by Maryanne Euthalia |
| Tuesday, 10 March 2009 19:21 |
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The U.S. Bureau of Labor Statistics reported that jobless rates were up in 47 states and the District of Columbia in the past 12 months and down in only 3 states. Michigan’s September jobless rate of 8.7% was surpassed only by Rhode Island’s 8.8% rate. Other states with worsening jobless rates were California with 7.7% and Mississippi with 7.8%. With no sign of things getting better before they get worse, proactive job searchers are widening the scope of their hunt for employment by including such far off destinations as South Korea, Japan, and Taiwan. While hiring slows in the U.S., demand for English-speakers in Asia continues to rise. “What we are seeing are more and more applicants who would not usually fit the profile of our typical ‘go-abroad’ personality. Recent applicants are worried about the job market back home and are looking for security that they can’t seem to find in the U.S. right now,” says Jason Cresswell, CEO of ASK Now Inc., (www.asknow.ca ) a firm that recruits graduates to teach English in South Korea. “Recent graduates are having a hard time paying back school loans. They know if they come to Korea to teach, they can send home a thousand dollars a month to keep on top of bills. They don’t have to pay for their housing, they don’t need to worry about gassing up a car, and they are adding valuable experience to their resumes for when things improve back home,” says Brant Kim, a manager with English Teaching Opportunities, another company that places people in South Korea. “Goldman Sachs, Chrysler, Xerox, Yahoo, Merck, they’re all cutting thousands of positions. That’s sending us a flood of well-educated people that would have otherwise been tied up in jobs in the U.S. The visa rules in Korea allow for anyone with a college degree and a clean record to qualify for a teaching visa. So, the majority of those getting cut are fully-qualified and desirable applicants for the schools in Korea,” says Cresswell. “For the first time in the years I’ve been doing this, there is a real possibility of actually meeting the demand for teachers here,” says Kim. “We’ve never seen that. It’s always more positions than people available. But, with a sudden flow of people out of the U.S. and Canada, we may actually meet the demand.” Those who choose to teach abroad are usually attracted by the free flight, free accommodations, and the potential to save money. The typical stereotype is of someone who is adventurous, has a backpack, few possessions, and nothing holding them down. “Now, we get a lot more people who are in the process of selling their vehicles, getting out of their apartment leases, or trying to rent their houses. It’s a different demographic than before and they are very concerned about how the economy in the U.S. will affect their chances of working abroad,” says Stacey Kydd, director of the Canadian and U.S. operations of ASK Now Inc. It’s understandable why people are concerned. Alan Greenspan, former Federal Reserve Chairman, said he could not see "how we can avoid a significant rise in layoffs and unemployment." He also predicted that stabilization was not likely to occur for “many months into the future.” With all of this doom and gloom, it’s no surprise that there is an increase in the number of people heading to their nearest airport for a flight out of town. As Cresswell puts it, “I’ve always noticed that people are looking to start fresh and get away from something that they’re not satisfied with in their lives back home. It’s pretty obvious what people are trying to get away from these days. I’m just happy we have a good alternative to offer them.” www.asknow.ca ### Add this page to your favorite Social Bookmarking websites |
