Students Reacting to Recession Differently than Older Citizens

The Student Life section of Utah State Today highlights work written by the talented student journalists at Utah State University. Each week, the editor selects a story that has been published in The Utah Statesman or the Hard News Café, or both, for inclusion in Utah State Today.

 

By Alice Bailey in the Hard News Café, January 30, 2009

 

Utah State [University] students are reacting differently to the recession than the average citizen, according to student employment and the on-campus Zions Bank.

 

Zions Bank USU campus branch manager Scott Twiss said Zions as a whole is doing better than many other financial institutions, being one of the only banks reporting earnings in the third quarter and building new branches throughout Utah. Twiss said the business in his specific branch has done well, even for Zions, and has stayed the same throughout the last few months.

 

"We are in a very unique environment up here where our clientele is, for the most part, a younger generation than most of the traditional branches," Twiss said.

 

Twiss said the age gap and the different cultures the younger and older generations grew up in factor into the different reaction to the recession.

 

"Look at those people that grew up through other depressions, other recessions as compared to now. I think a lot of the youth out there are going to experience their first recession," Twiss said.

 

He said a few people have come in inquiring if their money is covered, but the numbers are small. Twiss said this doesn't mean that the clientele at USU doesn't know what is happening with the recession, the reaction is just different.

 

USU student employment coordinator Paula Johnson, said the job board in the last two or three months has slowed down to about half of what is normal, but the demand for these jobs by students hasn't increased.

 

"The referrals have been about the same. The amount of students coming in applying has been probably about the same," Johnson said.

 

Johnson said she doesn't know what percentage of students looking for jobs are finding them, but jobs are still available. Johnson said the summer job fair on Feb. 10 should be a good opportunity for students who are looking for employment to find it.