Predictions are that 2009 could be one of the worst years to graduate in two decades. The Association of Graduate Recruiters estimates that 48 graduates will be chasing every job on offer this year.

The situation has been grim for new graduates for over a year now. Rising numbers of recent graduates failed to find a job last summer, even before the recession took hold.

Statistics published by the Higher Education Statistics Agency revealed 16,835 graduates failed to find a job after leaving university last summer. A third of last year's graduates ended up unemployed or working in bars, shops or call centres six months after leaving university. But that figure is likely to be nothing compared to what we're seeing now.

Of course, some graduates remain as likely as ever to get a job in their chosen career: with medicine, dentistry and education showing little ills effects of the recession. Engineers are in a good position according to Chris Cole, managing director of recruitment consultancy Darwin Park. "Demand is up 19% this year and is set to outstrip supply by 23% by 2010," he said.

Sales, marketing and customer-facing roles are also buoyant markets for graduate job-hunters, but anyone with their ambitions on a role in human resources, finance or IT is likely to struggle to find work.

Those can find someone to give them a job will see their salary trimmed before they've even started work. According to the Association of Graduate Recruiters, some sectors, including banking, are cutting graduate salaries by up to 8%.

So, what do you do if you've left uni with high hopes and a seemingly redundant degree in something like media studies, marketing and public relations or computer science? Think laterally, that's the advice from the experts. Here are some ideas.

Ditch the chips and become a spy
If you've got a computer sciences degree, don't despair. While computer science graduates are second only to media studies graduates when it comes to unemployability, there is one other option open to you that's far from ordinary.

MI5 is looking for IT security specialists, among other things to "protect the UK from terrorism, espionage and other threats to national security", according to the job spec. The role for wannabe James Bonds also comes with a salary of between £26,750 and £40,200, depending on whether you're based in London.

But before you get carried away fantasising about life as a spy, take a reality check: last year over 30,000 people expressed interest in working as a desk officer for MI5; of these just 60 were recruited.

Graduate jobs bloodbath

Stop knocking on boardroom doors and go door-to-door instead
If you're sick of getting knocked back by disinterested employers already besieged by desperate graduates, why not shift your sights to desperate housewives instead?

According to Avon, a new breed of "Avon ladies" are in the offing. It claims to have seen a 200% rise in applicants from graduates looking for work. And Kleeneze the direct-sales household products company says the picture there is the same.

Don't think big; think small
While traditionally a good degree would have had top employers wooing you with fancy packages and a first-class starting salary, today you could be better off looking to a small company for your first job.

While the salary will definitely not be the sort of sum you were after initially and there won't be a week of induction waffle, five nights of getting-to-know-your-colleagues drinks and a clear career path waiting for you, there will be paid employment and a chance to carve out your own career path.

The Federation of Small Businesses says one in five small firms would be willing to take on a graduate. And it is currently urging ministers to create 5,000 new internship placements to encourage more small businesses to do so while we're struggling through the recession.

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Think outside the box
When you graduate you've got two options. You can take your degree in medicine and become a doctor or your engineering degree and become an engineer, or you take the alternative route and do something altogether more interesting with the rest of your life.

A history of art graduate could becoming an art dealer or valuer. Both would let you draw directly on your studies on a day-to-day basis while building up even more specialist knowledge. Just make sure you brush up on your sales skills though, because ultimately you're going to need to make some money for the company you work for.

If you want to focus on other positives, then how about the close attention to detail you've gained while studying? That could come in handy in the world of publishing, say as an editorial assistant or picture researcher. Both would enable you to have hands-on experience of producing anything from books and magazines to online content.

Alternatives with a degree in biology or human sciences
On the other hand, a degree in biology or one of the human sciences means your options are almost endless, according to graduate recruitment site milkround.com.

"Away from practical scientific roles, you may want to think about applying for work in scientific writing, finance/accountancy, law, administration or any other 'technical' based career," it said.

"A science degree leaves you with key transferrable skills such as the ability to research topics well, understand and apply complex subject matter and present information in an effective way which are key skills for a range of popular graduate jobs in areas such as business, management and marketing."

So there you go, plenty of options. It's all about thinking "outside the box" as annoying business-types love to say.

How bad is it for graduates? Have your say

Take a belated gap year
If you can't join the UK workforce, then look overseas until the recession goes away and jobs start to come back. That way you keep your CV looking fresh, gain new skills and show plenty of adaptability.

What's more you can get paid to do it. The government is now paying graduates struggling to get a job to go on trips abroad.

The Department for Business, Innovation and Skills has launched a scheme with expedition company Raleigh International and is paying for 500 under-24s to travel to places like Costa Rica and India to take part in projects building schools, and so on.

So if you fancy a 10-week expedition to Borneo, India, Costa Rica or Nicaragua, working on a community or environmental volunteering projects, get that application in ASAP.

And whatever you do with your time after graduation, remember that the tough economic conditions won't last forever. One day you will get the job you want. In the meantime, use the opportunity to try new things.

Keep hold of those specific career goals, but use the opportunities around you now to develop your skills and experience.

As Steve Burbage, from the Open University Careers Advisory Service, puts it: "There is no such thing as a career path any more - it's crazy paving and you have to be prepared to lay it yourself."