In the past, graduates of MBA programs, especially in the US, are almost always assured of a job after graduation. The sad reality now, however, is that this is no longer true.The below shows how depressed the job market (i.e. investment banking, consulting) for business school graduates got in 2009.
That said, these 2009 levels occurred at just about the peak of the financial crisis as business schools finished up in May 2009. Based on the recent hiring that I've witnessed, along with my belief that motivated (i.e. indebted) students are highly adaptive to new opportunities, my guess is these figures have snapped back in 2010 (albeit not to 2007 levels).