Psychology is considered to be a recession-proof course to study.

UK newspaper the Guardian claims that people may be wise to pursue careers in psychology as the credit crunch continues.

"Economics degrees don't appear to have done bankers much good. Psychology might have been a better option," the publication stated.

According to the Department of Labor's Occupational Outlook Handbook, 2008-09 Edition, employment of psychologists is expected to grow faster than average over the next few years.

Those attempting to get jobs in the sector, however, must be prepared to face "keen" competition if they are to gain admission to graduate psychology programs, it claims.

Having doctoral degrees in counseling and other applied specialties can put candidates in the best position to gain employment, although 34 percent of those who qualify will end up being their own bosses.

This is far higher than the eight percent average found for other jobs.