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What must be Held in Mind and Done in Job Hunting 第2页

更新时间：2014-6-28: 来源：毕业论文

What must be Held in Mind and Done in Job Hunting 第2页
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1 Know about the world-Background information
1.1 Development and cause of the global financial crisis
The underlying causes leading to the crisis had been reported in business journals for many months before September 2008, with commentary about the financial stability of leading U.S. and European investment banks, insurance firms and mortgage banks consequent to the subprime mortgage crisis.
Beginning with failures caused by misapplication of risk controls for bad debts, collateralization of debt insurance and fraud, large financial institutions in the United States and Europe faced a credit crisis and a slowdown in economic activity. The impacts rapidly developed and spread into a global shock resulting in a number of European bank failures and declines in various stock indexes, and large reductions in the market value of equities and commodities. The credit crisis was exacerbated by Section 128 of the US Emergency Economic Stabilization Act of 2008 which allowed the Federal Reserve to pay interest on excess reserve requirement balances held on deposit from banks, removing the incentive for banks to extend credit instead of placing cash on deposit with the Fed. Moreover, the de-leveraging of financial institutions further accelerated the liquidity crisis and caused a decrease in international trade. World political leaders, national ministers of finance and central bank directors coordinated their efforts to reduce fears, but the crisis continued. At the end of October a currency crisis developed, with investors transferring vast capital resources into stronger currencies such as the yen, the dollar and the Swiss franc, leading many emergent economies to seek aid from the International Monetary Fund.

1.2 Job situation under the global financial crisis
The global financial crisis has had different impact on human beings’ economy, society and life as well as employment of the college graduates in 2009. How severe is the influence of the global financial storm on the employment of the college graduates? This is a problem that not only nowadays a large number of students pay attention to but also more and more people consult employment counselors. According to relevant statistics, the number of college graduates in 2009 in China will exceed 6 million, which is much larger than that in 2008. Therefore, some experts have forecast that owing to the financial crisis, college graduates in 2009 will find themselves confronted with more pressure in job hunting.
1.2.1 Different impact in different places
Currently job situation varies considerably in different places in China. According to person in charge of employment in Beijing University and People’s University of China, compared with the statistics of previous year, the number of job fairs which are held in campus and recruitment news is almost as same as those in previous year. However, the number of companies participating in job fairs in Guangzhou has decreased sharply. The man who is in charge of career guidance center of Sun Yat-sen University said,“ By the end of 7th November, only 102 companies had preached in our university, which decreased by 20% than last year.” In particular, because of the attack of global financial crisis, students who are finance and economy majors are faced with great pressure and setbacks. Mr. Chen, who is working in career guidance center of Jinan University, explained that several real estate enterprises came to recruit in the university last year but none came this year. Moreover, some large-size information technology enterprises have already cancelled their recruitment projects. According to Mr. Yang working in the career guidance center in South China Agricultural University, so far none of the real estate enterprises have contacted them. What’s more, the quantity of companies participating in the job fair has reduced to 50% in Wuhan and Chengdu.
1.2.2 Different impact in different industries
In terms of industries, the global financial crisis has a very severe impact on financial industry and export majors as well as sea transportation majors. According to Ms. Bi Xuerong from Ministry of Human Resources and Social Security of the People’s Republic of China, owing to the influence of the negative impact of the financial crisis on economy, some enterprises may tend to reduce their total number of staff. As a result, a large number of exporters and foreign companies have been laying off employees or have already cancelled their recruitment programs. One career consultant from the website Zhaopin.com told our correspondent that even though the quantity of job vacancies has been keeping increasing, the speed of increasing has slowed down, especially in finance, trade and real estate. News from personnel-recruiting markets expresses that this year some investment banks have been keeping laying off a large amount of employees, let alone to employ new staff. Besides college graduates studying in finance, students from other majors which are relevant to the development of international economy, such as international trade major are experiencing severe attack.

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