College hiring for the Class of 2018 is expected to drop significantly, according to a new report from the National Association of Colleges and Employers (NACE).
Employers now plan to hire 1.3% fewer graduates from the Class of 2018 for U.S. positions than they did from the Class of 2017.
While this may not seem like much of a difference, the latest projection—from NACE’s Job Outlook 2018 Spring Update report—is down from the 4.0% hiring increase employers anticipated for this class last November in the Job Outlook 2018 report. This marks the first projected hiring decrease since 2010, when employers planned to cut hiring for the Class of 2010 by 7%.
5-Year Snapshot
The following table provides a look at Job Outlook hiring projections for the past five years.
| Year | Fall | Spring Update |
| 2018 | 4.0% | -1.3% |
| 2017 | 5.8% | 5.0% |
| 2016 | 11.0% | 5.2% |
| 2015 | 8.3% | 9.6% |
| 2014 | 7.8% | 8.6% |
Source: Job Outlook 2018 Spring Update, National Association of Colleges and Employers (NACE)
Industry Specific
In releasing findings, NACE points out that the drop in college hiring is not widespread. The fact that the college hiring outlook for the Class of 2018 has dropped this spring is a prime example of how volatility in a small number of industries can impact the overall hiring outlook, NACE notes.
It indicates that two industries in particular are driving the overall decrease. Insurance firms responding to the Job Outlook 2018 Spring Update survey anticipate decreasing hires by 42% due to the recent natural disasters—hurricanes, floods, and wildfires—that caused high dollar amounts in catastrophic losses.
Meanwhile, retail employers plan to decrease their hires by almost 33%, citing the changing landscape of their industry and lack of new openings as key factors.
Survey Methodology
The NACE Job Outlook 2018 Spring Update survey, which updates the hiring projections for the Class of 2018 that were reported in the Job Outlook 2018 survey in November, was conducted from February 12—March 30, 2018. The survey was sent to 958 NACE employer members; 150, or 15.7%, responded.