New college grads face a cooling job market. Here's where the jobs are.
CBSN
After earning their college degrees this month, new graduates are understandably eager to land their first job and start making their education pay off. But that could pose more of a challenge this year than in 2023.
Hiring for freshly minted college grads is forecast to decline 6% from a year earlier, according to a recent survey of more than 200 employers from the National Association of Colleges and Employers, a group representing college career services employees.
Data from payroll services provider Gusto also shows that the new grad hiring rate — the share of recent graduates who are hired in a given month — is now about 6%, down from a recent peak of 10% in 2021. Still, the hiring rate is about level from a year earlier, with Gusto principal economist Liz Wilke telling CBS MoneyWatch that the job market for new grads is relatively stable.
