I can appreciate your concern and assume you are in your final year of studies at the moment.
I work for KPMG Consulting, and as with other firms in this sector, we have frozen headcount (our number of staff) and ceased recruiting in response to the slowdown in the market. We have also been through a redundancy programme in recent months. If we are unable to sell our consultants onto client work, and keep utilisation levels at a certain rate we may need to reduce headcount further. As you are probable aware for example PwC have just announced their 4th round of redundancies.
We are not expecting the market to improve drastically until September next year, a view shared by analysts and other firms. For the next year at least I would expect the recruitment market to be slow.
Not the best news for you. Having been involved in last years recruitment rounds for our firm I can only say that we generally take people into the graduate programme for my dept who have 1-2 years experience after uni anyway. So the best you can do is find whatever roles you can which will build up your experience and exposure to projects and business issues - no experience is wasted.
I hope this info is of use to you, and wish you all the best in your employment search.