Once the excitement of graduation passes, 2003 college graduates will confront the daunting task of finding a job in a market that is currently contingent on a weak economy.

New graduates entering the job market this year face intense competition. Turnovers are minimal because people are afraid that if they leave their current positions, they could be left without a job.

The class of 2003 will have a better chance of securing a job than the class of 2002, although they could find themselves competing with last year’s graduates. Last year was considered one of the toughest times to find a job since 2000 due to the sluggish economy.

Most students assumed the era of a booming economy would last until they got out of school. Graduates can no longer expect to be pursued by employers waving fat paychecks with endless benefits.

Times have changed. The economy is no longer prosperous. Think of it this way – what goes up must come down. However, the economy will flourish again – it always does.

College is a lot less intimidating than the business world – go back to school.

“Many employers rate this job market as only ‘fair,’” reported the National Association of Colleges and Employers in their Job Outlook 2003 survey. “Employers blame the shrinking number of job opportunities for members of the class of 2003 on diminished hiring needs, fewer clients requiring services, budgetary cutbacks, hiring freezes, low attrition and layoffs.”

The U.S. Bureau of Labor Statistics reported a decline in employment payroll during March by 108,000; nonetheless, the national unemployment rate remained the same at 5.8 percent. This 5.8 percent translates to 8.4 million people without jobs.

During economic lows, many undergraduates choose to continue their education by enrolling in graduate school. In the past, graduate school enrollment rose noticeably during job market lows.

Due to budget deficits across the nation, universities have felt the brunt of the lagging economy. Educational institutions, along with the prison system, and health and human services, have been required to cut their budgets drastically to help relieve the economic shortfall. Some universities have established relief plans by decreasing the number of classes being offered and increasing tuition.

Financial stability is a main concern among graduates in locating a job and returning to school. Many graduates already carry a huge debt from student loans. Increased tuition and fewer classes to choose from may cause new graduates to stray from returning to school.

Stress appears to be inevitable on either side, unless you are one of the lucky few that will land a solid job.

New jobs, in and of themselves, create stress and fear. Will your new coworkers like and respect you? Do you have the necessary skills to survive in the working world? Will you be able to pay off those student loans? Do any of these questions sound familiar?

Although the job market seems grim, the prospects of finding a job are far from hopeless. There are a number of techniques to help job seekers smoothly transition from school to the workplace. Excellent research skills, career placement services, networking, and internships are all beneficial ways in increasing job opportunities. Internships enable graduates to sample the business world firsthand, while gaining invaluable work experience.

Do not agonize, you are not alone; anxiety permeates through every new graduate. Maintain confidence in yourself and if all else fails - go back to school.

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