Employers plan to hire nearly 20 percent fewer new college graduates next year than they did in 2001, according to a National Association of Colleges and Employers job outlook survey.
The 439 employers polled said they plan to hire 19.7 percent fewer new grads next year, and 44 percent say they plan fewer recruiting trips to schools.
Manufacturing (30.1 percent fewer hires) and service industry employers (24.2 percent fewer) reported even more austere hiring budgets.
The NACE survey did point to some bright spots. Fewer than a third of employers plan to cut back on graduate hiring, and 30.1 percent–mostly smaller companies–plan to increase their hiring and 39.8 percent maintain recruitment goals.
Government and nonprofit organizations look to be the leading recruiters, the survey found. That sector plans to increase its hiring of new grads by 20.5 percent and visit 12.6 percent more schools for recruiting trips.