One strategy in a difficult job market is to pursue more schooling, staying in school or returning to higher education.

Business Tennessee reports that MBA programs across the state are seeing a rise in enrollment from both those just finishing up their undergraduate schooling and from workers returning to school from the job force.

"Historically, a recession sees potential students flocking to enroll in graduate schools," Raoul Russell, director of graduate programs at Tennessee State University's College of Business in Nashville told BTN. "I've been in academia through two recessions, and I've seen this trend before."

According to the 2009 Global Management Education Graduate Survey, getting an MBA has tangible advantages in an economic downturn. The survey found "a greater percentage of job seekers from the graduating class of 2009 had received an offer of employment at the time of the survey compared with participants during past downturns, such as that of 2002 to 2004."

Data from the Census Bureau shows that on average, the income of someone with a master's degree is 20-25% higher than someone with only a bachelor's degree.