May 17, 2002

For New Graduates, a Tough Job Market

The Class of 2002 is graduating into a tough job market. The unemployment rate is at its highest level since 1994, and a survey by the National Association of Colleges and Employers indicates how the recession is working against new graduates.

Nearly 80 percent of the colleges responding to the survey reported that the number of companies recruiting on their campuses last fall had dropped from the previous year. Specifically, 79 percent reported a drop in the number of job postings,

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