Like being an undertaker during a plague...

US News and World Report (via Mark Perry) reports:

"There is no unemployment among Ph.D.'s in economics," declares John Siegfried, a Vanderbilt University professor. Just do the math, and you'll see why: In the current academic year, the American Economics Association has listed approximately 2,200 job openings worldwide—but U.S. universities will grant only 950 Ph.D.'s in economics. Universities themselves may cut back, but economists remain in demand in government, business, and nonprofits and as consultants or policy analysts

...from Greg Mankiw's Blog