With hiring on the rise, this year's college grads will find a somewhat better job market awaiting them after graduation, but those already hurt by the recession might not bounce back so quickly. According to a study by Till von Wachter, an economics professor at Columbia University, the drag on income lasts for 10 years, on average. In addition, the outlook could be worse for the class of '09 or '10, von Wachter said, since the worse the recession, the longer it takes to get earnings and a career back on track. "In the bad recessions in the past, the graduates recovered in 10 to 15 years. But we've never had such a strong recession," he said.
Brittney Winters graduated from Princeton in 2009, she has a double major in French and Spanish. But aside from some freelance tutoring, the jobs she's been able to find: waitress, public relations and video store clerk-- all aren't in her field.
Afshin Shirazian had trouble finding an internship in the summer of 2009, so he changed careers and went to UCLA business school despite bad timing. He graduated in 2010, and has been trying to find a marketing job in the health care field ever since. But so far, he has only been able to find freelance consulting jobs.
By the time Michael Brody graduated from Hunter College with degrees in English and film in 2009, he knew he was going to be facing a tough job market. Two years later he still doesn't have a permanent, full-time job. Since graduation, Brody's done some freelance writing, worked in construction and even tried his hand at stand-up comedy.
http://finance.yahoo.com/career-work/article/112754/recession-lost-generation-cnnmoney
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