Yes, the commercial side of the business is taking a beating right now too. Several of the large commercial real estate companies are experiencing layoffs (my company will not even accept resumes this year).

Don’t let that completely turn you off. As a new grad, you would not want a commission based position anyway, so start knocking on those doors. If you are sure that commercial development is where you want to be, sell this as the company’s “opportunity” to get a new employee at a bargain rate to train for the next cycle.

Businesses are downsizing. I hear the there are a lot of vacancies in the Sears Tower — because it was a possible target during 911 people don’t want to lease there.