What Can Recent College Grads Do During an Economic Fallout Brought by the Pandemic

A total of 19 million confirmed cases of the coronavirus disease has been recorded worldwide, with over 11.5 million recoveries and 712,000 deaths.

The number of rising cases of COVID-19 in the world is not the only one that people should be concerned about. Aside from its rising mortality cases, the coronavirus pandemic continuous to cripple countries' economy.

The United States has 4.89 million confirm cases of the disease, with 160,000 recoveries. Hospitals are struggling to accommodate everyone infected with COVID-19, and business foreclosures are increasing.

In an April 17 report, 22 million Americans have filed for unemployment benefits, and some of those have not received their stimulus check due to technical glitches.

The Small Business Administration has run out of money for its Paycheck Protection Program.

With these, how can recent college grads survive during an economic fallout brought by the COVID-19 pandemic?

Recent College Grads

Recent college grads are also suffering from the economic fallout caused by the coronavirus pandemic. In June, a National Association of Colleges poll showed that around eight percent of companies are planning to or have already revoked job offers to recent college grads of 2020.

The poll had the highest percentage of this result at 22 percent.

Due to this, recent college grads are thrown back to the job market. For those with student loans, the financial pressure might be even greater.

What Can Recent College Grads Do?

However, you can still do some things, such as focusing on industries that have expanded their needs for new employees.

These industries include health and family care sectors. The health care industry gained over 350,000 jobs in June.

Other industries that are still thriving during the COVID-19 pandemic are health care, manufacturing, private education, real estate, finance, and construction.

Recent college grads might want to steer clear industries in restaurants, bar and food services, hospitality, tourism, airlines and transportation, retail, entertainment, beauty, and personal services, and oil and gas.

Consider looking for lower-cost housing too. You can also choose if moving home as it will allow you to save high housing costs.

If moving home does not sound appealing, you might want to look for housing assistance or consider adding a roommate.

Recent college grads can also look at taking a part-time job. Food delivery services are currently booming with stay-at-home orders being implemented.

Some other potential part-time jobs you could apply for are dog walking, house sitting, mowing lawns, and babysitting.

Besides, consider cutting your costs, especially if you do not make much income. Consider shopping at discount stores, review your utility and service providers, and commit yourself to cook at home instead of ordering takeout.

Cancel your gym membership fee and scan the internet for work out plans at home.

If you are worried about your student loans, consider applying for several types of repayment plans. For private student loans, refinancing can aid you during this time. Also, ask your lender for discounts that you might qualify for.

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