NACE releases its Job Outlook 2009 Spring Update today, which shows employers plan to hire 22 percent fewer new college grads from the Class of 2009 than they hired from the Class of 2008.
These new projections override those made back in the fall, when employers reported plans to hold their college hiring at last year’s levels. More than two-thirds said they have adjusted their plans due to the econmy, with most pushing hiring downward.
This latest Job Outlook report 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.
Additional data from the Job Outlook 2009 Spring Update report is available through the March 4 issue of NACE’s Spotlight Online newsletter.