According to the National Association of Colleges and Employers, graduates of the class of 2009 may be stepping into an especially challenging job market due to current economic conditions.
In an October poll, employers across the country told NACE that they plan to take on 1.3 percent more graduates next year than they did this year, downgrading their August estimates of a 6 percent increase.
Additionally, the survey reveals that there is only one sector in which growth is anticipated: government. In previously lively areas – such as finance and manufacturing – hiring is likely to be much slower.
These predictions may sound particularly dire to those who already have the weight of a student loan hovering over them.
Recent figures from the College Board revealed that tuition costs at both public and private universities have risen again this year, adding to the large financial burden already shouldered by many students.
If you are one of these soon-to-be-graduates about to enter an uncertain job market, it makes sense to start thinking about how to organize your finances so that you are in the best possible situation on graduation day.
First of all, order a copy of your credit report to find out where you stand. A number of organizations – from banks to some employers – may be interested in viewing your credit score when making decisions that will impact your future.
If you are among the few college students who have never had a handy piece of plastic in your wallet for making purchases, consider signing up with one of the student credit cards currently on the market so that you can begin to build your credit.
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