Economic Crisis and the Class of 2009

As I've been watching my retirement account take a nose dive, I've been thinking a lot about this upcoming class of 2009. Graduation is 8 months away and it's unclear what our economic situation will be in a few days, never mind a few months. Right now, things look bleak. The credit crisis has affected small businesses, Wall Street, homeowners, parents of college age children and more. The lack of access to credit has affected virtually every aspect of the economy including the job market. Many industries are experiencing layoffs as other companies collapse. I've gotten phone calls and emails from a number of alums who have lost their jobs and many seniors I've spoken to are paying attention to this crisis.

So what are you to do if you are graduating this year? Besides crossing your fingers for Washington to figure out how to stop the crisis, I have a few more recommendations for the class of 2009.

1. Don't wait until April to start looking for a job. Most likely your job search is going to take a while. Spend your winter break getting your resume perfected and conduct some research on various companies. If you were planning on taking the summer off, you may want to reconsider.

2. Start networking with family and friends now. Don't wait to contact someone about a career in their industry. Do it now. Begin figuring out who you have in your network and don't hesitate to contact them and ask to set up an informational interview. Start letting your network (i.e. friends and family) know that you will be looking for a job in a few months.

3. Don't assume that the industry you want a career in won't be affected. Every industry from retail to marketing, and from business to human services will be affected by this crisis.

4. Be flexible. If you are set on a job in a particular industry, you are limiting other opportunities. The more narrow your goals, the longer it's going to take to find a job. If you are open to working in different industries, don't hesitate to apply to jobs that interest you. Also think about having a Plan B in case you can't find a job in your industry. Plan B may include moving in with Mom and Dad, going back to your summer job, or postponing graduate school.

5. Be patient. It's going to take a while for you to find a job. This is the case even when the economy is strong. Make the most of your time and don't put your job search on the back burner.

6. We're here for you. Always remember that the Career Services Office is here for you and can help you with your resume, interviews, and job search. Don't hesitate to contact us about doing an internship, or attending one of our workshops or events. We will also continue to work with you after you've graduated, regardless of the state of the economy.

~Elizabeth

"We cannot change the cards we are dealt,

just how we play the hand."

~Randy Pausch, Last Lecture