"Economic news is dismal these days, and college graduates' job prospects are no exception, according to a report scheduled to be released today by the Collegiate Employment Research Institute at Michigan State University," The Chronicle of Higher Education reports. "Hiring for graduates at all degree levels will decrease by 8 percent over last year, says the annual report, which is based on employers' projections. 'In two short years,' the report says, 'we have moved from a zenith of exuberant and aggressive college hiring, through a period of cautious optimism, to a place of quiet desperation.'"