Post-Grad Employment Drops by Nearly 25%
Posted 10 Mar, 2009
In case the unstable loan market wasn’t nerve-racking enough for today’s college students, a recent study shows that their future career options may be affected by the economy as well.
All in the Numbers
The National Association of Colleges and Employer just released the results of their Job Outlook 2009 Survey, and the numbers are disconcerting to say the least. According to their findings, employers expect to hire 22% fewer new graduates this year than they did last year.
While the results apply to the nationwide average, the numbers were even worse for certain areas of the country. Northeastern states predict a decrease of 38.9% from last year, and the western states expect a decrease of 31.9%.
Post-Graduate, Pre-Employment
The job market slump is a frightening proposition for soon-to-be graduates. With the length of the current recession so uncertain, it may continue to affect students for years to come, developing into a very serious problem for new graduates.
We discovered last November that student loan debt is already beginning to outdo post-graduate income, which makes the NACE’s report that much more poignant.
Preparing for the Future
Now more than ever it is critical that families try to mitigate their children’s student loan debts. One of the best ways to do this is to create a college funding “roadmap” that will minimize your family’s out-of-pocket costs and keep borrowing to a minimum. Here is when planning “outside the box” may be valuable. Career planning, college matching, cash flow planning, tax reduction strategies and private scholarships, are just some of the areas every family should explore to help reduce college costs.
Remember, smart planning today can have a huge impact on how your and your student’s finances end up tomorrow !
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo by Itz
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In case the unstable loan market wasn’t nerve-racking enough for today’s college students, a recent study shows that their future career options may be affected by the economy as well.
All in the Numbers
The National Association of Colleges and Employer just released the results of their Job Outlook 2009 Survey, and the numbers are disconcerting to say the least. According to their findings, employers expect to hire 22% fewer new graduates this year than they did last year.
While the results apply to the nationwide average, the numbers were even worse for certain areas of the country. Northeastern states predict a decrease of 38.9% from last year, and the western states expect a decrease of 31.9%.
Post-Graduate, Pre-Employment
The job market slump is a frightening proposition for soon-to-be graduates. With the length of the current recession so uncertain, it may continue to affect students for years to come, developing into a very serious problem for new graduates.
We discovered last November that student loan debt is already beginning to outdo post-graduate income, which makes the NACE’s report that much more poignant.
Preparing for the Future
Now more than ever it is critical that families try to mitigate their children’s student loan debts. One of the best ways to do this is to create a college funding “roadmap” that will minimize your family’s out-of-pocket costs and keep borrowing to a minimum. Here is when planning “outside the box” may be valuable. Career planning, college matching, cash flow planning, tax reduction strategies and private scholarships, are just some of the areas every family should explore to help reduce college costs.
Remember, smart planning today can have a huge impact on how your and your student’s finances end up tomorrow !
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo by Itz
Subscribe in a reader
Subscribe by Email
[...] Bad news for seniors. (Sorry, girls.) [...]