Magoosh GRE

How the recession affects students

| January 9, 2012 | 0 Comments

It’s hard to open a newspaper, switch on the TV or go online without hearing about the current economic crisis. Whether it is the ever-worsening problems with the eurozone or the cuts at home, it can be hard to take it all in. The economic crisis, produced by the recession in 2008, is particularly troubling for those on the career ladder, but how does it affect you?

On the one hand, there’s no better time to be in education. You are earning a degree that will help you when you graduate into the jobs market. You’re currently living from a loan rather than relying on a salary. And if you are a fresher, then the likelihood is that the country will be experiencing growth by the time you finish and so won’t have as much to worry about.

But what about now?

There are two main points of concern affecting students at the moment – the increased cost of living and the availability of part-time jobs.

As the cost of living rises for the employed, it does so for students as well. Utility bills are likely to be amongst the sharpest price hikes, with many energy companies raising their costs over the coming year.

The cost of renting privately in London is going up at a faster rate than the rest of the country.  And food prices are increasing at a time when incomes aren’t.

The best way to get round this is to budget, plan ahead and always make sure you’ve got the best deal possible.

In terms of work, part-time employment hit a record high last year. Bear in mind that with the number of part-time jobs increasing, so too are the number of part-time jobseekers. Many of whom may have lost their careers in the economic crisis.

Therefore it is important to find part-time jobs aimed at students. Many universities offer job adverts on their careers sites or advertised throughout university. Here, you will find specalised jobs and advice just for you.

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