College Hiring Outlook: Fewer Jobs for Class of 2010

Employers say they’ll cut new college grad hires by 7 percent.

Employers expect to cut back on their college hires again this year, according to a national survey conducted by the National Association of Colleges and Employers (NACE).

Overall, employers report hiring 7 percent fewer Class of 2010 grads than they hired from the Class of 2009. (Not that the Class of 2009 had an easy time of it: The economy nosed dived in October 2008, and employers slashed their college hiring, employing 22 percent fewer from the Class of 2009 than they hired from the Class of 2008.)

Most employers characterize the job market for Class of 2010 grads as “fair,” although government employers assessed opportunities in government for new grads as “good.”

Hiring projections do vary by region, but, for the most part, the news isn’t good. Employers in the Midwest (down 3.2 percent) , Southeast (9.9 percent), and West (down 37 percent) all report cut backs. Among the regions, only the Northeast has a positive outlook (up 5.6 percent). (See Figure 1.)

While bachelor’s degree level grads face a tough job market, international students and associate degree grads may experience even greater difficulties. Just 19 percent of employers taking part in the survey said they plan to hire international students in 2009-10—the lowest level in the past five years. The story repeats for associate degree grads, who also see hiring levels dip to their lowest in five years: Just under 19 percent of responding employers plan to hire them.

Bright Spots: Jobs in Government, Teaching, Healthcare

Overall, opportunities are best in areas where demand (number of jobs available) still outpaces supply (number of grads to fill jobs). Current bright spots include jobs with the government, which include a variety of opportunities for a variety of majors and skills; teaching positions; and jobs in the healthcare industry.

Spring Recruiting: Take Part!

Traditionally, on many campuses, employers have come to campus to interview prospective employees. They take part in career fairs and set up interview on campus.

Currently, employers in the Northeast are more likely than employers elsewhere in the country to be committed to recruiting in the spring, but, in general, it’s likely you’ll see fewer employers on campus this spring than has been the case in the past.

Does that mean you shouldn’t bother to sign up for interviews? Absolutely not.

If your campus has an on-campus interview program, it means your career center is working with employers to help them connect with you. Given the job market, it’s even more important now that you take advantage of every opportunity to connect with a prospective employer face to face. Be sure to check with your campus career center for details about employers visiting your campus—and take part!

Looking Ahead

It’s not all doom and gloom: The projections showing a 7 percent decrease in college hiring were originally made back in August 2009, and three out of four employers said they would review their hiring needs quarterly or monthly. In fact, back in August, just 17 percent of employers said they expected to increase the number of new college grads they would hire, but, in a recent poll, more than one-quarter said they plan to increase their hiring

In addition, nationally, the unemployment rate for overall unemployment rate has fallen steadily over the past couple of months, from a high of 10.2 percent in October to 9.7 percent in January. For college graduates, the unemployment rate is lower: In January, the unemployment rate for those with an associate degree was 6.9 percent, while the unemployment rate for those with at least a bachelor’s degree stood at 4.1 percent.