CLEVELAND, Ohio (WOIO) - Things were looking up for college students about to head into the job market, until the coronavirus pandemic hit.
But now the class of 2020 will graduate into the worst economy in generations since the Great Depression.
So what should they do? 19 News spoke to Scott Wright, finance professor at Ohio University.
“So the class of 2020 was expected to graduate into one of the best job markets in years, literally a couple of generations. Our unemployment rate has been the lowest in like 50 years,” Wright said.
But that changed with the coronavirus pandemic.
If you can't jump into the workforce right away, Wright has some ideas for you.
“So what can you do? Well first of all, realize it's only going to get better. And while you have this down time, take advantage of it. Take advantage of going beyond what you learned in school, maybe get a certification online, pay $50 for an online class to get a certification,” he said.
Maybe heading back to school seems like a good idea now.
“If you were ever considering getting a master's degree, you thought maybe I'll work for a few years and get a master's, maybe now's the time to get a master's and by the time you graduate from that the economy should be in really good shape,” Wright said.
One third of recent graduates are still living with their parents.
Wright expects that number to go up.
“Think about really buckling down on your finances. That may mean living with your parents. There’s no shame living with your parents. You can save a lot of money with rent and so on with food, depending on how your parents are going to treat the situation,” he said.