It was never a particularly easy task to find a job directly after graduating college, but the economy’s current state and several factors relating to it can make graduation a less than jubilant experience for some.
This week, it was reported that U.S. student loans soared higher than ever, reaching $100 billion in loans taken out this year. Outstanding student loans are expected to reach $1 trillion sometime this year.
When you look at the factors leading to this massive debt, it shouldn’t be surprising. Every semester students face significant fee increases while programs and courses are cut. Education is one of the few areas where we are still willing to pay more while receiving less, but not much can be done if we have no other options.
Think of it in other terms. None of us would buy a new car if a salesperson told you that the new model is the same as your old one, only much more expensive and stripped of half the options package.
Now most students are trying to enter a more competitive workforce with large amounts of debt on their shoulders
Another factor aiding to the incredibly competitive workforce is high unemployment and the countless stories of layoffs. A significant number of those who are unemployed are returning to universities in an effort to become more competitive in the marketplace.
Of course, this results in younger students competing with a large group of people who have degrees and more work experience. Some entry-level positions are also being filled by people who would have been considered overqualified before the economy crashed.
From what I gather after talking with numerous people is that it is easier to find jobs in labor positions. It makes sense when you think about the advice economists give during hard economic times.
Most economists advise people to get involved in areas that either saves people money or that serves an area that consumers will always need even with a bad economy.
There are more examples than I can think of, but consider these few examples. Consumers will always need something fixed on items like vehicles, homes and property. Sales are another area where employees are always needed.
I don’t think any of us should look past the possibility of starting out in any of these positions. That’s not to discourage striving for bigger things, but everyone needs a backup plan. A lot of the companies employing these types of positions have advertising, marketing and relations positions as well, but might just takes a foot in the door before an employee can work their way up.
I understand that the point of a college education for some is to leapfrog over labor positions, and some will, but the economy is in a different position than it was a short time ago. That might mean starting out in a different position that most of us planned for.