Amid the chaos in Wall Street recently due to drop in home and mortgage lending, there's a clear connection in how it affected recent job losses. But that doesn't mean national layoff reports indicate anything for us to worry about. It actually fell last week by 3,500 to 305,500, the lowest level since late May, reported from the Labor Department, which also was better than what economists had forecast. Since companies are hiring at a decent but steady pace, it may mean that there's much more competition for job seekers. Qualifications and requirements for recruiting may go up, especially in the area of educational background. When I was just out of college, obtaining a college degree seemed good enough to land a great job, but there seems to be a raise in standards for positions these days. Having a masters degree seems like a basic requirement for many companies, especially if one wants to get promoted or just start his/her first job with a higher salary. It's ironic though, seeing that you're digging yourself into a deeper hole of debt from all the extra school loans. But in order to compete with new demands in the workplace, certain sacrifices must be made. Keep that in mind when you're walking down the aisle during commencement ... it doesn't necessarily mean that it's the end of your days cramming for exams!