Economy Shows Little Sign Of Short-Term Health
January 6, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
Analysts are predicting a weak job market and economy well into 2010, which could make pursuing an MBA degree much more attractive to many students.
A recent report by CNNMoney.com cites estimates from the Federal Reserve predicting that unemployment will continue rising through this year and into the next, accompanied by a shrinking economy during that time period.
The report noted that 1.9 million jobs were lost in 2008, pushing the national unemployment level to nearly seven percent - and that if the current recession does indeed last that long, it will be the longest since the Great Depression.
There have long been media reports of professionals weathering the shaky job market by returning to school to work on MBA degrees. However, there is also much more here than just an opportunity to avoid the recession. People who do earn an MBA are far more likely to receive promotions and pay raises after graduation - and to also be far more attractive to employers in the first place if unemployment does remain significant for longer than expected.
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