While the economy may be heading towards a recession, the job market continues to look bright for recent college graduates. Why? Baby boomers are heading off to retirement, and employers are on the lookout for a well-educated but cheap workforce that will be moldable.

However, the job market might not be bright for all college grads. After all, some jobs are booming and others not. Jobs in accounting and engineering, for example, remain strong, but those interested in mortgage financing and hedge fund analysis will face a tougher year.

According to National Association of Colleges and Employers Executive Director Marilyn Mackes, "New college graduates just entering the job market will likely find fewer opportunities than originally anticipated. It will also mean that graduates who were focused on particular industries, such as finance, may need to adjust their target industries."

But Jeff Kaye, chief executive of recruitment firm Kaye/Bassman International Corp., said, "Up until three months ago, the outlook for new college graduates was probably the best it's been in years."

The average college grad will earn around $49,300 a year, which is 4% higher than last year's $47,000, says a National Association of Colleges and Employers report.


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