I had to break the news to a bunch of second year Uni students that the market for them won't be the same as for people who graduated last year etc. That it'll be a tougher marker, and that the market won't owe them a living any more. this was about 2 months ago here in Melbourne. Judging by the rooms reaction, it surprised people.
I had to go back to basics of job search for them. Work hard, market yourself, get in front of people, look the part or talk to people at least and FOLLOW up respectfully. Be realistic, positive and patient!