This post is part of the College Money Network series of posts for graduating college students.  Suggestions from other writers about what they are going through.

This current economic predicament we’re in is probably the toughest job market most of us has ever seen.  It’s been suggested the worse since the Great Depression, possibly even tougher in some cases.  We aren’t even sure if we’ve hit rock bottom.  Unemployment has hit an all time high, and many people who are graduating or have graduated recently have no job prospects.

Thus I have to ask the question, is it time for recent graduates to consider doing a free internship instead?  Why do an internship?  First off it gives you experience in the field you wish to pursue a career in.  Many times for new graduates one of the biggest knocks against their resumes is a lack of experience in the field they wish to pursue.  Perhaps with the bad economy now would be a great time to build experience for free.

Second, it allows you to network in your career field.  Often new graduate don’t know anyone in their chosen field and may find it difficult to get a foot in the door.  By interning they are able to build contacts in the field and develop a reputation.  These contacts might help the new graduate hear about potential job openings sooner.  They might also be able to use their contacts as references to better land a position.

I realize internships might not be an option in some careers, but it is worth investigating as an option rather than waiting around for a job.  An internship can to build contacts, experience, or transition into a different career.  Also an internship can be used as a resume gap, rather than waiting a 6 months to a year to find a job.

What are your thoughts on internships?