The economy is in a state of turmoil and the job market is looking bleak. What does this mean for college graduates?
In terms of finding work, one thing that many unemployed people have been doing is returning to school. While this can be a great way to restart your career path or gain new skills, it also comes with its own challenges: taking on student loan debt and not knowing what you’ll do after graduation. But if you don’t take advantage of the opportunity now, when will you?
The job market is a competitive place, and it’s only getting harder to secure that first full-time position. As college students prepare to graduate, they’re facing an economy that is still struggling to recover from the last recession, as well as an increasingly complex job market that requires skills beyond those learned in school.
“It’s all about being prepared,” said Tom Williams, a professor of economics at the University of California Santa Cruz. “You don’t want to get caught off guard by what’s out there.”
Williams recommends going through some kind of career development program on campus, but he also suggests taking advantage of internships and volunteering opportunities so you can get real-world experience in your field before entering the workforce.
“When you’re young and just starting out, it can be hard to find something,” Williams said. “But if you have direction and focus, it will make all the difference in whether or not you succeed.”
The economy is a hot topic these days, and as the unemployment rate continues to rise, more and more students are graduating into a job market that is not what they expected.
Students have been known to go into debt for college, which can be very difficult to pay back if you don’t land a high-paying job right after graduation. According to a recent survey by Lantern by SoFi, it took 71% of graduates of the 2008 Great Recession six months or less to find a job. A small portion (8%) of those 2008 Great Recession graduates didn’t have the same fate and it took them a bit longer at a year plus.
What can you do if you’re in this situation? There are ways to get out of debt quickly. Your first step should be to look at your spending habits and see where you could cut back or make better choices so that you aren’t wasting money on things that aren’t necessary for day-to-day living.
Once you’ve made some budget adjustments and started saving money each month, consider trying some side hustles like babysitting or dog walking in order to build up some cash reserves so that if a job doesn’t come through right away, when it does come through (or even if it doesn’t), you’ll be able
The economy is in a recession. If you’re one of the millions of Americans who lost their job during this period, it’s easy to feel like there are no options left. In fact, however, there are plenty of things you can do to make sure your next job is a good one. Here are five tips for finding a new gig when you’re looking for work during a recession:
- Be flexible
- Look for local opportunities first
- Consider temporary positions
- Don’t be afraid of freelancing or consulting work
- Explore new industries and roles