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Fewer employers plan to hire new college graduates this year, according to a survey by Monster Worldwide Inc. (NASD: MNST). Only 59% of employers plan to hire new graduates this year, down 17% year-over-year. In addition, 29% are unsure, almost twice as many as those who reported indecision in 2007.
Still, 85% of respondents who are hiring plan to recruit as many new graduates, if not more, than in 2007, according to Monster.
"Entry-level candidates should not be discouraged because the labor market remains healthy," said Mark Charnock, VP and general manager of MonsterTRAK. "Considering our 2003 survey revealed only one-third of employers planned to hire recent graduates, there will be plenty of opportunities available for the class of 2008."