Job Outlook looks Stable -- NACE Report
Our staff recently received an employment report from NACE (the National Association of Colleges and Employers), a leading professional organization for career services professionals and industry recruiters. We wanted to share with you the information that was provided in this brief report. From this report, you may want to be targeting government organizations for your next job or internship. (Note that the tables don't transform into the blog template well, so you may want to view the tables on the NACEWeb website - link below).
College Hiring Flat for Class of 2009
Current projected hiring for the Class of 2009 shows very little growth over the hiring levels for the Class of 2008, but no expected decline.
This projection is based on a recent poll of Job Outlook participants who were asked to re-evaluate the hiring projections they provided in August in light of recent developments that suggest the general economy may be facing a significant downturn.
Employers who participated in both the August and October polls (N = 146) are expecting to decrease their original hiring levels by 1.6 percent. Nevertheless, when compared with the number of actual hires from these firms for the Class of 2008, the expectations for the Class of 2009 are still 1.3 percent ahead of last year’s actuals.
Figure 1: Hiring projection trends
Mean Median Total
08-09 Projected Hires (October poll) 141 30 19,797
08-09 Projected Hires (August poll) 143 35 20,117
07-08 Actual Hires 139 30 19,542
In the August poll, approximately one-third of respondents said they were re-assessing their projection of college hires downward. Now, among respondents to the current poll, 52 percent of respondents currently project that they will be hiring fewer graduates during the 2009 recruiting season than they hired from the Class of 2008; 34 percent still anticipate hiring more graduates, and 14 percent expect to hire the same as they hired in 2008.
Figure 2: Change in college hiring expectations
2008 vs. 2009, by reporting firms
Respondents Percent of Respondents
Decrease 73 52.1%
No Change 19 13.6%
Increase 48 34.3%
Total 140 100.0%
The decreased expectation for college hiring that occurred between August and October was broadly felt across industries. Only government as a sector saw a significant increase in hiring expectations, while manufacturing and professional services remain essentially flat during the period of economic turmoil. All other industry categories decreased their hiring expectations for the Class of 2009. (See Figure 3.)
Figure 3: Percent change in hiring expectations, August to October, by industry
Industry Percent Change
Distribution & Utilities -17.6%
Finance & Insurance -6.2%
Business Services -3.1%
Professional Services 1.7%
Updates: NACE will continue to monitor the job outlook for the Class of 2009. The Salary Survey Winter report, scheduled for distribution in late January, will provide a first look at demand for new college graduates by specific discipline.
Data in this special report reflect responses from 146 organizations that had responded to NACE’s Job Outlook Fall Preview Survey in August. At that time, respondents overall reported plans to hire 6 percent more new college graduates from the Class of 2009 than they had actually hired from the Class of 2008. The current poll, conducted October 6 through October 17, 2008, updates those hiring projections.
Posted by kkowatch at October 30, 2008 09:54 AM