There’s a recession all over the world. Which is nice, because I like it when we all have something in common. I’ve written about the recession few times. I’ll write about it some more. Much like the Jonas Brothers or skinny jeans, it won’t last forever, but it’s definitely not going away for a while. So we’ve got to learn to cope.

Like any recession, there’s a lot of hype these days. Newspapers, maybe because they’re shedding jobs faster than everyone else, are banging a ceaseless drum about this presumed fiscal apocalypse. And yes, it sucks, and yes, it will suck for at least another couple of years, but it’s important for members of Generation Y not to take all this doom-and-gloom rhetoric and make bad choices in the short-term that could seriously screw with their long-term career goals.

It’s critical that us young people, in the face of the specter of soup lines and cardboard houses, to not give in to hype-driven impulsiveness and make mistakes. Don’t panic.

No one’s in greater danger of this than those who are looking at graduating college or university this spring. When I graduated in 2006, I was looking forward to it — there was something exciting about stepping out into the world. Now, it’s a little bit like walking The Green Mile.

Take this article from the Kansas City Star: The perils of graduating college in 2009:

With so many experienced people out of work, how is a new grad supposed to compete? Many companies prefer to hire someone who is tested and knowledgeable in their industry rather than taking a flyer on a new kid. And those laid off folks are desperate too, often willing to take significantly lower salaries to land a gig.

Columnist Michael Stahl is right, of course, in that you’d have to either be a supergenius or an incredible moron to expect lucrative employment right out of college these days. But, again, I have to emphasize how important the ‘not panicking’ part of this is. I’m hearing about a lot of grads who are making really dumb decisions in light of the economy.

Here are three big career mistakes you should avoid right now, no matter how safe and secure - and even sensible - they might sound:

1. Don’t go to grad school

Look, I’ve got nothing against graduate school in theory. And, by all means, if you’re the kind of person who legitimately loves learning and being in academia — if you could see yourself spending your life tangled up in it — than grad school could absolutely be the right path for you.

But don’t do grad school because you have some misguided notion that it’s going to magically help your employment prospects. Penelope Trunk already covered this pretty well::

Applications to the military increase in a bad economy in a disturbingly similar way that applications to graduate school do. For the most part, both alternatives are bad. They limit your future in ways you can’t even imagine, and they are not likely to open the kind of doors you really want. Military is the terrible escape hatch for poor kids, and grad school is the terrible escape hatch for rich kids.

Even short grad school programs (One or two years) tend to offer little more than lipstick on a pig. If you don’t have the drive toward academia - and especially if you’re considering paying for grad school through student loans that will bury you into your forties — all you’re doing is avoiding reality.

2. Don’t become a teacher

One of my big anger-triggers these days is the seemingly widespread belief that teaching is a universally-palatable career choice that pretty much ANYONE with a BA can get into, be good at, and secure sustained employment. It’s not, it shouldn’t be, and trying to push the teaching profession down that road will undoubtedly screw with the education of young people for years to come.

Ignoring the fact that teaching is an incredible important occupation that should be the domain of our best and brightest, teaching isn’t even really all that stable these days. It made all sorts of sense when birth rates were high all over, but demographics are changing. Teachers are facing layoffs all over because there are a glut of teachers and not that many students.

I have a BA in History. I know that a lot of BAs get fed crap about how teaching (or grad/law school) is the only career option out there for them. But that’s not true. Just because your pathway isn’t lit up for you with guide lights doesn’t mean it’s not there.

3. Don’t base everything on statistics

There is, and there has always been, a lot of merit to looking at statistics before launching yourself toward a certain career. Researching your employment sector, looking at employment trends and average salaries — these are smart things to do.

But the danger here is in putting too much weight on the stats. The stats will say, for example, that you’re far better off going into structural engineering than, say, journalism. Many orders of magnitude better off. The difference between those two career paths is literally hundreds of thousands of dollars.

But if you have no desire to be a structural engineer — and your whole life you’ve wanted to be in journalism — none of that will matter. Life is always easier when you have a ton of money in the bank and you’re not living off Ramen noodles, but it’s not necessarily always better.

Giving up on your passions is absolutely the biggest mistake you can make in this economic climate. Not only because it’ll probably make you miserable, but also because that which you’re passionate about tends to be what you’re good at. It sounds a bit cliché and kind of like something the Care Bears would chant, but I believe it: your talent follows your passion.

Accentuating the Negative

I know, I know — I’ve only told you what NOT to do, and not given you any kind of advice on what TO do. But that’s kind of the point. The current job market demands patience. The only proactive advice I can really give at this point is to be vigilant. And to get a job — any job you can — that will provide you experience and the money you need to get by.

The best thing you can do for yourself right now is NOT screw up. You don’t have kids, a mortgage, imminent retirement plans or other major liabilities. You’ve got patience that others won’t have. And time will reward Generation Y for that.