The employment status of 1980 degree recipients in physics and astronomy was surveyed. For physics degree recipients, the majority of bachelors and masters required two months or less to accept suitable employment, while the majority of doctoral graduates required three months or longer. Information is presented on changes in occupational status of physics and astronomy degree recipients between the summer of 1980 and the following winter. The characteristics of graduates who were employed full-time or undertaking temporary postdoctoral fellowships are compared in relation to: sex, age, citizenship, type of research, and major subfields. The proportions of women and foreign degree recipients increased in both the physics and astronomy professions, and fewer doctoral physicists changed subfield as they accepted potentially permanent positions. A listing of the major subfields of the physics dissertations shows that for subfields like plasma or optics a very high proportion of graduates secure potentially permanent positions. The length of postdoctoral fellowships for 1980 degree recipients is considered in relation to citizenship, selected subfields, and postdoctoral plan. Data on employers of new doctoral physicists show that industry accounts for half of the positions accepted; specific work activities of these physicists are indicated. Data on masters-level physicists show that: the type of institution attended is influential in determining initial employment; and four out of five new masters start employment in physics-related positions. Almost 80 percent of masters and bachelors physicists found their initial employment challenging. An estimated 70 out of 165 astronomy bachelors were interested in immediate employment rather than pursuing a career in astronomy; of the 24 respondents, 11 found astronomy-related work. (SW)