It's not just boomers who are worried about Social Security and the future of their retirement.

According to a new study by Adecco Staffing, only 19 percent of recent college graduates believe Social Security will still exist by the time they retire.

Even more concerning, less than half of college grads (46 percent) believe their personal savings will be enough to fund their retirement. Additionally, 26 percent of graduates don't believe they'll be able to retire until they are 70 years old or older.

The study, conducted by Braun Research on behalf of Adecco, a large staffing firm, was designed to understand how the economic downturn has impacted the career paths of "Generation R(ecession)" graduates - young professionals who graduated between 2006-2010, the years surrounding the Great Recession.

The results were fairly bleak. A vast majority (71 percent) of recent college graduates would have done something differently while in college to better prepare for the job market. Specifically, they wished they had started their job search earlier (26 percent), spent more time networking (29 percent), and/or applied for more jobs (26 percent) prior to graduation. In essence, those graduating during the recession regretted not using the time they had while in college to position themselves better to seek and secure full-time employment in their chosen fields.

This regret is likely a by-product of many graduates' current employment situation. Though many did eventually find full-time employment during the downturn, the survey results showed that it was frequently not in positions that require a college degree. In fact, Adecco's survey found that almost half (43 percent) of Generation R graduates are currently working at a job that does not require a four-year degree.

"Regardless of how the economy is fairing, graduates who proactively pound the pavement well before they finish their studies are more successful in landing a full-time job after graduation," said Joyce Russell, EVP and president of Adecco Staffing US. "The best piece of advice for the graduating class of 2011 is to treat their job search as if it were a full-time job. The students who succeed are those who proactively put themselves out there and build relationships by networking with professors, working closely with university career centers, actively connecting with alumni, and capitalizing on real-world job experience through internships and temporary work."

The class of 2010, which presumably had the opportunity to witness and learn from the mistakes of previous graduating classes, seems to have understood the benefits of an aggressive and wide job search better than any other class, particularly 2008 graduates. On average, 2010 graduates have applied to 14.5 jobs since their graduation, while 2008 graduates have only applied to 10.8 jobs since graduation. This broad search strategy appears to have paid off: it took 2010 graduates only 3.97 months to find a full-time job after graduation, compared to 2008 graduates who searched for 9.4 months before landing a position. This in spite of a 9.6 percent unemployment rate in May 2010, compared to a 5.4 percent rate in May 2008.

Additional survey findings include:

Temporary work provided options to recent graduates throughout the recession: Nineteen percent of all Generation R undergraduates turned to temporary jobs within six months of graduation. While the classes of 2010 and 2008 approached their job search differently, both classes equally valued the opportunities temporary work had to offer; within six months of graduation, 26 percent of 2010 graduates and 25 percent of 2008 graduates turned to temporary work for employment.

Moving back in with mom and dad, back on their dime: One-third (33 percent) of all Generation R grads — from the classes of 2006-2010 collectively — currently live at home with their parents. But it doesn't stop there: nearly one-fifth (17 percent) of these recent graduates are financially dependent on their parents.

Instant Insights /

College grads worried about their retirement futures

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