The current employment market for 1986 college graduates from Michigan was assessed by placement directors from 29 Michigan four-year institutions. The directors rated supply and demand based on information obtained from follow-up studies of recent graduates, campus interviewing statistics on employer requests by major and degree level, numbers of job listings, and discussions with employers who were recruiting graduates. For each academic major, ratings are provided for bachelor's, master's, and doctoral graduates. The following rating scale was used: many more jobs than graduates available (excellent), some more jobs than graduates available (very good), about as many jobs as graduates (good), a few more graduates than jobs (fair), and many more graduates than jobs (poor). The highest demand among bachelor degree candidates was expected in engineering; materials and logistics management; accounting; finance; computer information systems and computer-aided design, hotel, restaurant, and institutional management; nursing; occupational therapy; office administration; and selected fields in elementary and secondary education. Findings for master's and doctoral candidates are also briefly summarized. (SW)