Job Market Strong for College Graduates (2/2)

Just over half of employers said they expect to offer jobs to more college graduates this year than last. But the signs of job growth do not look so good for liberal arts graduates. Not only that, starting pay for graduates with a liberal arts degree is up just 1%.

Before we go -- we told you last month that the carmaker Chrysler was for sale. This week DaimlerChrysler of Germany announced a deal for its struggling American division. Cerberus Capital Management, a private equity" class="hjdict" word="equity" target=_blank>equity company in New York, will buy an 80% share. The deal is valued at almost seven and one-half billion dollars.

Daimler will have to pay about 650 million dollars to complete the deal. And it will continue to hold 20% of Chrysler. But it will no longer be responsible for Chrysler's retirement and health care plans. Their cost is estimated at around 18 billion dollars.

Labor unions are being told there are no plans for major job cuts beyond the 13000 that Chrysler announced in February.