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If there is one single benefit to the US due to the recession, it is that more people are studying in colleges than ever.
Young graduates, unable to get jobs in the downturn, feel that they can get advanced degrees so that they are employable when the economy recovers.
The US is facing a crisis with nearly 9.6% of Americans being jobless due to the recession, according to Labour Department. In fact, President Barack Obama has called for more tax incentives for companies that generate jobs in the US, while deploring outsourcing work to countries such as India and China.
But once the recovery happens, the job market is expected to open up for these graduates who will have advanced degrees and can do more intellectual work.
A study by the Council of Graduate Schools says the US has seen a jump of 8.3% in applications to graduate schools in the year to 2009, the first after the worst recession in the US in decades began. But between 2003 and 2008, the average growth has been flat to one percent, the Chronicle of Education reported.
Though there is economic recovery, the US is still to declare that it is out of recession. Graduates, who hone their skills, are expected to get better paying jobs than those who do not have additional qualifications.
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