Hard to find a job, but not an internship

Companies are cutting back on jobs but hiring more summer interns to keep their talent pipeline supplied. More students want to get on-the-job experience.

Employers, in a sign that they are looking beyond the current economic slowdown are using intern programs to help build their junior ranks. Certainly interns can provide cheap and eager labor. But they also bring fresh ideas and allow companies to build their talent pools, experts say. Firms are hiring a larger number of their entry-level workers from their intern pool, so they are looking to lure top college students well before graduation.

"Were seeing growth every year in the number of interns being hired," said Camille Luckenbaugh, research director for the National Association of Colleges and Employers. "One reason companies are looking to hire is to fill their talent pipeline. They are looking five to 10 years down the road."