Smoothly cemented, grass-lined pathways can easily guide Brandeis students to the classroom, but outside of Brandeis' main gates, students preparing to graduate confront more hostile road blocks in their search for careers.This difficult situation facing Brandeisians is the decline of the job market and its impact on the stock market, and consequently raises the level of concern for students in devising post-graduate plans.

According to Professor Blake LeBaron (ECON), the current state of the economy is in part the result of a transition from the period of success experienced in the United States in the late 1990s and the beginning of the new decade. As the economy regressed into a state of recession, a deep impact was felt in the job market across the country and was manifested in the downturn of the stock market. Now, investors are left wondering when the stock market will bounce back.

"Anytime you're in that transition, "and (the stock market) goes down, everyone wants to know when it will stop," LeBaron said. "It may keep going down for a while."

LeBaron cites several factors at play in the current condition of the stock market, including the failure of the hi-tech dot-com world to reach expectations, the numerous accounting scandals such as Enron, and the precarious state of the overall political situation.

The degree of uncertainty in the economy resulting from these factors is causing stock market prices to drop. This drop not only leaves individual investors wary of the market, but also forges a barrier to the maximization of funds available for use by Brandeis University.

The Brandeis University Investment Club (BUIC), composed of undergraduate and graduate students, has invested $25,000 of the University endowment in the stock market.

"The school granted us (the portion of the endowment) four years ago to increase people's knowledge of the market in a hands-on approach (to learning)," BUIC president Aaron Szekel '05 said.

Szekel said returns made off of BUIC's investments are directly affected by the market, forcing club members to invest wisely. "Rules about spending a certain percentage of the endowment are (at Brandeis), so when the market falls, (Brandeis) can spend less of the endowment," LeBaron said.

In general, those who have "a more well diversified (portfolio) have done a little bit better," Szekel said.

While diversification of a portfolio can limit risk, individuals are warned to remain cautious when investing in the stock market. "It's tricky," LeBaron said. "I think if you are still investing right now, it's a time to be careful."

There remains the possibility of success in the market, LeBaron's said. "When people get nervous, there could be big opportunities floating around," he said. Nonetheless, risky and volatile stocks such as those in telecommunications should probably be avoided, Lebaron added.

Even those students without funds invested in the stock market are directly affected by its depressed state and the general state of the economy, especially those seeking jobs within the financial sector.

According to Hiatt Career Center Director Meryl Glatt-Rader, "some Brandeis students would like to work on Wall Street, and recruiting has been significantly impacted by what has happened on the stock market." "(We are) hearing a lot of anxiety from students who are still very much focused on that goal," Glatt-Rader said.

Brandeis students are not alone in their concern for lack of available jobs in finance. According to Glatt-Rader, recruiting at college campuses is down nationally.

LeBaron confirmed the current struggle of the national financial sector. "It's a very tough job market for financial services right now," LeBaron said.

Areas of the economy employing more readily than financial services include careers in healthcare, education, government, the insurance industry, and pharmaceuticals. Still, many may find it more difficult to obtain jobs.

Glatt-Rader recommends a few approaches for the harsh climate for entering the job market: The key is to "be creative and think broadly," she said.

According to Glatt-Rader, options for students wary of entering the job market at this juncture include applying to graduate schools as an alternative or addition to their job search. As another possibility, paid overseas opportunities in the form of various fellowships are available to graduating students.

"In this economy," Glatt-Rader said, "it is really important for students to network with alumni to help them in the job search."