The Terrible Job Market for New Grads

The job market for new college graduates has fallen by as much as 40 percent in the past year, according to new data from the Michigan State University Collegiate Employment Research Institute. The Michigan State study is based on surveys of 2,500 companies and other hiring entities. Last year, the survey projected an 8 to 10 percent drop in hiring, but the final figures are closer to 40, and an additional 2 percent drop is anticipated on top of that.