Occupation - Pre-Employment?

THEN.
June 2008

I made the most of my holidays after degree, thinking...
a) I won't have spare time when I start working
b) I have had 20 years of education. I deserve a break.

Mom agreed to it (surprisingly!). It was okay to wake up late (by late I mean 11 AM) and it was okay to surf the net for hours at length, it was okay to meet friends whenever you want!
Life was bliss.

I deserved it. Didn't I slog through my Engineering(I indeed had my share of fun as well)? Didn't I work hard during Post-Grad?
Life was bliss.

Until...
NOW.
Oct 2008

Of recent, every other form I have to fill up has a column saying "Occupation". What do I fill in there?
Student (I'm no more one!) or a short explanation of Lehman brother's Bankruptcy and the downward-spiraling economy of the US affecting my date of joining? Well, I don't have enough space in the latter case. After all is "unemployed" an Occupation?

If application-forms give me nightmares, you should know what the highly specialized species "Homo sapiens" do. Every other curious Aunty asks me -
X : "How is work ma?"
me(feeble voiced) : Aunty, I haven't got my DOJ yet.
X : You aren't trying anywhere else?
me : No Aunty, I thought I'll wait. I've to wait only for a couple of months.

Is it going to be just another couple of months???
To wait or not to wait. That is the question.