Hello,
I graduated with a degree in Chemical Engineering back in '08. Worked for 1.5 years, laid off this january, job search has been absolutely brutal. I've done an analysis of job prospects within the industries I'm qualified for - realistically, with the number of jobs shed in '08 and '09 in those industries, we're looking at 5 or more years of extremely strong job growth until we get back to '07 levels. That's being optimistic. Realistically, it's closer to 10. Given how competitive it's become even for mediocre positions paying 40-50k compared to several years ago, i think it's time to retrain or pursue a different career path.