If you’re planning on turning your child’s room into a study, you might want to hold off. Seems college graduates are having a tough time finding jobs as the credit crunch and resulting turmoil rolls. For boomers that are already caring for elderly parents, the prospect of the kids showing back up on their doorstep might be unsettling, to say the least. From the Wall Street Journal:

“The bleaker picture is in stark contrast with last year, when colleges and employers reported robust hiring, and students in finance, accounting and other hot fields were choosing among numerous offers. Now, companies that just a few months ago were planning substantial increases in entry-level hiring have scaled back their plans as economic conditions have worsened. In turbulent areas such as financial services, some firms are slashing the number of fresh graduates they intend to employ, and students are curtailing expectations of finding their ideal position.”

Read the whole thing at www.wsj.com.