<p>Article in the Wall Street Journal
[Link</a>]( <a href=“http://online.wsj.com/article/SB120707629451581051.html?mod=fpa_mostpop]Link”>http://online.wsj.com/article/SB120707629451581051.html?mod=fpa_mostpop)</p>
<p>I expect we’ll see more of the Class of 2008 opt for more education. D is taking the GRE at the end of the month.</p>
<p>S turned down one offer and has accepted another. I’m just keeping fingers and toes crossed that it isn’t rescinded before his start date.</p>
<p>worrywart and others-- How concerned should we be about that? My dad recommended I call the company I accepted a position at and “double-check on my start date”, which I know means “make sure my job still exists”. Do you think this is a bigger worry for students going to work at large companies? (I’ll be one of two entry-level employees in my division of a small company, which makes me feel more “necessary”.)</p>
<p>Thanks for your insight :)</p>
<p>lindz, you know you hold a fond place in my heart, being that you’re a Smith student who has provided much thoughtful guidance for S2. I only wish I had a good answer for you. Like your dad, I am encouraging S1 to stay in touch with his future employer. Please let us know later this summer that all has worked out well for you.</p>
<p>Get a room.</p>
<p>So does this mean for people who are graduating in 09 and beyond possibly have better shots at picking up jobs? This is provided the Republicans don’t get voted in.</p>
<p>^ My AP Economics teacher was actually discussing this issue with us recently. While the economic downturn may jeopardize entry jobs for this year and next year’s college grads, it couldn’t be a better time for us pre-frosh who will be insulated for the next couple of years during this recession. No matter what people may say, the business cycle of expansion and recession will always continue. Granted the recession doesn’t last more than a couple of years, we who are about to embark on the collegiate journey should be fairly well off when we graduate.</p>
<p>Indeed. My father notes that whomever the next President is, they will be seeking reelection when I, class of '12 am looking for a job. they’re going to have every incentive to see the economy red hot at precisely the right time for me :D</p>
<p>Please note that this recession will not boil down to a 4 year period. If it did, people would commit suicide.</p>
<p>It’ll probably be a year, especially until after the holidays. Hell, with this injection coming into the economy, it could be done before the holidays. Let’s hope Benny boy and his team are doing something right. Greenspan said thumbs down…but he’s always been pessimistic. That’s what made him great. He also said it’s going to be longer than we might imagine. </p>
<p>But 4 years? Pfft. We’ll be in another recession and you’ll be waiting tables at Olive Garden. :)</p>
<p>why does it have to happen to us? </p>
<p>being class '11 ,I debate with my father that we have to go through so much crap. wars, global warming , prices going up, jobs going down, houses are no where near an engineer’s budget… meh, Thanks to Bushy( and yes, i do blame him for global warming).</p>
<p>greenvision-- Things like wars, recessions, etc. happened to our parents and grandparents too. It’s certainly not just our generation (and certainly not just Bush to blame). Back during the oil crisis in the '70s, people couldn’t even fill up their car whenever they wanted to.</p>
<p>Everyone has to deal with something-- we should be thankful we live in a country with a mostly stable economy and an amazing respect for human rights.</p>
<p>Glad I graduated in December.</p>
<p>One oft-overlooked way around this problem is to look outside the United States for a job.</p>
<p>I have taken a job in India (where the impact of global recession means growth forecasts are cut from 8.7% to 8.0%). Not only does my job exist, but it sure will look great on the resume :)</p>
<p>Expand your horizons. An American university graduate is a highly sought-after commodity, you know.</p>
<p>Edit: No, I don’t mean Europe. They’re not going anywhere.</p>
<p>When I graduated from college, we were smack in the middle of a recession. Seniors across my university proudly displayed their many job rejection letters on the walls of multiple off campus bars. Somehow, we all found a position somewhere or got graduate degrees and made it through. The class of 2008 will do the same, I’m sure.</p>
<p>This sounds somewhat more optimistic for 2008 college graduates.</p>
<p>[Class</a> of 2008 Steps Into Good Job Market](<a href=“http://www.jobweb.com/studentarticles.aspx?id=1219]Class”>http://www.jobweb.com/studentarticles.aspx?id=1219)</p>
<p>Another article (March 25, 2008, WIFR) makes an interesting point:</p>
<p>“The U.S. Bureau of Labor Statistics says within the next ten years, the number of baby boomers are expected to increase by 50-percent. So many employers want to train young workers now, so there will be someone ready to take the boomer’s place.”</p>
<p>Such pessimism here. </p>
<p>
Things generally get better with every generation and this generation is no exception. </p>
<p>There might be a war on now but there was when I (and most parents here) graduated HS there was a war on as well only then we had the draft and a lot more soldiers being killed than in this one. If you don’t want to go to the current war you simply don’t have to volunteer for it. </p>
<p>The unemployment rate is far less than it was when I graduated HS or college and is at a low level overall. </p>
<p>Prices always go up yet somehow, people seem to be able to generally afford more. Compare the average house along with its houseful of items and the cars owned by the average person today with that 30 years ago or 50 years ago. You’ll see a marked difference with people in each generation having more than the previous generation (2500-3000 sq ft house now compared to 1000-2000 sq ft before, multiple cars now, fancier cars than really needed with nav systems, leather seats, ultra-sound systems - high end cars, multiple TVs including plasmas, a computer and a lot of personal electronics for many members of the household, vacations to Europe, Hawaii, and other expensive place rather than to the mountains, local beach, or the nearby state park, the list goes on).</p>
<p>Houses are quite affordable on an engineer’s budget. Engineers typically have high salaries, a lot of job offers (depending on the discipline), and can generally buy a house sooner than many other types of grads. It doesn’t mean they can buy their dream home of 4000 square feet immediately upon graduation but they’ll likely be able to buy a reasonable one in not too many years if they save reasonably and apply themselves.</p>
<p>Global warming - exactly how is this affecting you? The answer is ‘not at all’ and it won’t unless you panic and support stringent costly laws based on little evidence of the impact of humans on the subject and more to the point, the impact of the USA to the exclusion of all other sources, and any real benefit to the laws. And “blaming bushy for global warming” - you mean there was no global warming until Bush entered office and then magically we had global warming? Think about this.</p>
<p>I’m not going to debate all of this (again) since it’s been done many times on other threads and we all have our opinions but before you believe the pessimists on the news and in the political spectrum, take a look for yourself and do your own research. Understand history and your real opportunities today.</p>
<p>The 1990s were abnormal in the fact that there was only one recession in the early 90s. Most of the time every so many years, a recession hits. It is a fact of life. It has to do more with the business cycle than any president in office.
The U.S. unemployment rate is still half of what is normally seen in Europe.<br>
In terms of getting a job right out of college, a lot depends on your degree. If you have a good degree, you’ll find a job a lot easier than a bad degree. Liberal Arts majors always have harder times finding an initial job than business or engineering majors.</p>
<p>It’s always easier (and cheaper) to hire young people and fire the older ones. I wouldn’t worry too much.</p>