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College Hiring Remains Optimistic

Employers anticipate hiring 8% more new college graduates from the Class of 2008 than they hired from the Class of 2007, suggests the latest Job Outlook 2008 Spring Update report, released by the National Association of Colleges and Employers (NACE). Yet despite this positive outlook, the current negative economic climate has affected the hiring prospects of new college graduates. In fact, while hiring projections remain positive, they have cooled off since the fall of 2007, when employers projected a 16% increase in college hiring for the Class of 2008. According to NACE, this is tempered by the fact that much of the negative impact is concentrated in specific industries, leaving a significant portion of the market for new college graduates robust. Moreover, many employers responding to the current survey report concentrating a large portion of their hiring activity in the fall, and less than 1% expect to rescind the job offers they made then. “In general, the hiring outlook remains positive, and many seniors have already received job offers,” says Marilyn Mackes, NACE executive director. “New college graduates just entering the job market will likely find fewer opportunities than originally anticipated. It will also mean that graduates who were focused on particular industries, such as finance, may need to adjust their target industries,” Mackes adds.