I disagree w/ u thapap. First off System Engineering position can have different meaning depending upon industries and companies. In power sector, a system engineer owns his system and takes care of it. In retail sector, they have to make sales pitch and stuff. Telecommunication alone is not the defining turn in engr job market. First off we aren't only talking about Electrical Engr here. Even if we are Electronics, Energ sector, utilities and Power Systems and electrical engr in Aerospace have contributed equally, if not more. Aerospace engineer don't only get job in aerospace projects. They have both mech and electrical education combined (mostly). Companies Boeing will keep bolstering their workforce, even though they have seen some decline in the past year. One of the major players in the defense sector in Aerospace, Lockheed Martin will keep on expanding. But to close the conversation again...System Engineering needs to be defined properly before you declare how peeps are hired in that section. My friend was hired right out of college as Sys engr.