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Job Prospects Not So Great for 2009 Grads

October 24, 2008

by Scholarships.com Staff

So you've finally hit your senior year of college and you're anxiously awaiting the day when nobody will ever force you to write another 8-page paper about James Joyce or take another three-hour-long college exam.  You're about to be on your own, earning real money and living the high life (Goodbye, roommates!  Goodbye, budget diet!).  All you have to do now, aside from completing those 21 required credits you need to cram into your spring semester, is find a job.

Survey says you'd better start looking now.

The National Association of Colleges and Employers polled 146 employers in a range of industries this month and calculated a projected hiring increase of just 1.3 percent for 2009.  Anything under 6 percent is considered pretty bad news, according to an article on the subject appearing in The Chronicle of Higher Education.  Campus career centers are advocating that students who plan to graduate in May or August start their job hunt now, rather than waiting until closer to graduation.  Another idea is to look into nonprofit organizations, government jobs, and other fields where demand remains steady in a recession.  Of course, many of them offer lower pay than a college graduate might need to live comfortably while repaying student loans.

Of course, you could also go to graduate school.  It's not too late to register to take the Graduate Record Examination (GRE), put together a personal statement and some letters of recommendation, and throw yourself into application process.  Some master's programs accept applications into March or April, and possibly even later.  Graduate students gain more knowledge and experience in their field, including valuable teaching and research skills, and can continue to rely on financial aid (including scholarships, fellowships, and assistantships) for two or more years while the economy hopefully stabilizes and job prospects improve.

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