Employers are planning for a 1.9% reduction in hiring for new graduates from the class of 2024, according to the National Association of Colleges and Employers Job Outlook 2024 report released today.

The figure indicates a decline from the growth of 14.7% and 26.6% observed in 2023 and 2022, respectively.

“To be sure, if the projections hold, members of the class of 2024 are still entering a strong job market, although they may need to be flexible to attain the position they want,” NACE president and CEO Shawn VanDerziel said in a press release.

“It bodes well for the current class that more than three-quarters of responding employers rate the job market for the class of 2024 from ‘good’ to ‘excellent,’ underscoring their perception of the current market’s strength,” VanDerziel said.

The survey also found that more than 43% of employers plan to increase starting salaries for the class of 2024 bachelor’s degree graduates, while the remaining employers anticipate maintaining salaries at last year’s levels.

VanDerziel noted that these findings suggest employers recognize the class of 2024 as a strong talent pool, indicating potential competition among employers to hire graduates from this class.

Data for the Job Outlook 2024 survey were collected from Aug. 2 to Sept. 18, with 255 respondents, of which 180 were NACE employer members.