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One note: I can't think of a worse place in the US to job hunt from than Michigan state.
Why is that? Because of the state of Michigan's economic condition? Or is MSU poor at landing grads jobs?
The former, which is really bad and not housing bubble induced (i.e. it looks to be structural), with industrial Ohio south of it also not doing well.

My understanding of MSU (which I considered going to in 1979) is that it's an above average state school. Location aside, I wouldn't expect its grads to have any more than the normal amount of trouble finding jobs (the normal right now of course being bad).