College Hiring Falls 22 Percent

Employers expect to hire 22 percent fewer new grads from the college Class of 2009 than they actually hired from the Class of 2008, according to a new study conducted by the National Association of Colleges and Employers (NACE).

The new projections in NACEís Job Outlook 2009 Spring Update report override those employers made back in the fall, when hiring projections looked flat.

ìEarlier, employers indicated that they expected to keep their new college graduate hiring levels even with last year,î says Marilyn Mackes, NACE executive director. ìOur current survey shows that college hiring is as affected by the economy as other types of hiring.î

Not surprisingly, the anticipated drop off in hiring was prompted by the deteriorating economic situation.

ìMore than two-thirds of employers said the economic situation forced them to reevaluate their college hiring plans, and nearly all of those said they have decreased their planned number of hires,î says Mackes.

In the immediate future, the projected drop means a sharp decline in employer activity on campus this spring, with 66 percent of employers responding to the survey reporting plans to lower or eliminate spring hiring.

NACEís study also ends a string of positive hiring reports for new college graduates dating back to 2004. Students graduating in the early part of the millennium experienced significant drops at the hands of the dot.com bust and the terrorist attacks of September 11, 2001. Hiring fell off 36 percent for the Class of 2002 but steadied for the Class of 2003 before rebounding in 2004.

Nor do employers appear to be especially optimistic about the near future. More than 46 percent said they are unsure about their hiring plans for fall 2009, and 17 percent are already reporting that they expect to trim further their college hiring.

About the Job Outlook 2009 Spring Update: The Job Outlook 2009 Spring Update is one of a series of polls that NACE conducts throughout the academic year to update hiring projections for new college graduates. The survey was conducted February 9 through February 28, 2009, among organizations that are NACE members; 174, or 16 percent, responded.

In addition to its Job Outlook surveys, NACE gauges demand for new college graduates through its quarterly Salary Survey report. The Spring issue of Salary Survey, detailing starting salary offers to more than 70 disciplines at the bachelorís degree level, will be released in April.