It's been shown that, on average, people who enter the workforce during a recession earn less throughout their lives than people who graduate when the economy is doing well.
Look, if you're planning to graduate over the next while, things are going to suck. Not "will I be able to get a job at cuulCmpny.com" suck, but "will I be able to both pay rent and eat" suck. Nasty, soul-crushing stuff that'll make you wonder if you were really as smart as you thought you were all this time.
Just keep your head and you'll come out of it fine. Your character will be stronger, you'll have superb perspective and your long-term earnings will be spiffy.
Don't waste energy worrying about whether or not you'll have a few more bucks on your paystub in 20 years. There are a whole ton of other factors which can affect that a lot more than the birth-sign of your economic zodiac.
If you're planning to spend your life cowering, it really won't matter whether your choice is a cubicle or a classroom.
I spent that period in grad school, and while I don't have houses and cars, I also have no debt. I suspect I will end up better off in the long run -- we're just not there yet.
If that is the case it's more important you recognise when times have improved, than to delay your entry by another x years.
But all else equal, it's probably better to enter the workforce in good times rather than bad.
The first study says the the income gap closes within 10 years.
10 years is not a "lifetime".
"Another study of M.B.A. students by Stanford economist Paul Oyer to be published in the Journal of Finance, found that having the bad luck of graduating during a bear market could slash lifetime earnings. Oyer estimated that during a bull market, someone who gets an investment banking job upon graduation earned an additional $1.5 million to $5 million throughout their lives when compared to someone who graduated during a bear market. This was in the 1990's, so it's likely to be even higher now. "