UW-Eau Claire does more for the city than just offering a Saturday football game, as stated by Eau Claire’s Economic Division, because of the city’s large population of young adults that benefit its economy. In the 2008 Best Performing Cities Index, which is judged by job sustainment and economic growth published by Milken Institute, Eau Claire topped all other Wisconsin cities. Local restaurant and coffee house Acoustic Café has yet to see a change in their business since the sinking of our nation’s economy, said assistant manager Blayne Bowell.
“I haven’t noticed a difference, October is our busiest month and it’s continuing to stay that way,” Bowell said. “Students are going to spend no matter what, they seem to be oblivious to the woes of our economy … If they got money in their pocket they’re going to spend it.”
Senior Andrea Albers did some fall shopping at TJ Maxx this weekend. TJ Maxx, a discount store, offers popular name brands at discount prices.
“I feel the drop in the economy has not had an effect on me, I shop here because I’m on a budget; college students are always on a budget,” Albers said.
Economics professor Duane Oyen said that most upcoming and recent graduates will probably feel the effects of the economy soon if they haven’t already.
“For the next six to nine months anyone who enters the work force will find it more difficult,” he said.
But the current economic crisis affects not only those entering the job market, and Oyen said all students might be feeling the pinch.
“The economy is having an impact on parents, some parents will suffer job loss or income loss which will filter down to students,” Oyen said.
With cost of tuition rising each year, a suffering economy will make loans less accessible and interest rates higher than before.ÿ
“It’s definitely something to think about,” Albers said. “I know once I graduate paying off my loans will have a major impact on my life but right now I have other things to think about.”