A review of the current literature addresses the questions: What is the extent of placement difficulty or unemployment among the recent crops of Ph.D.'s? What are the causes and explanations given for whatever market imbalance exists?; What are the long-term employment market projections for Ph.D.'s?; and What employment-promoting steps can those individuals take who have invested their lives in graduate study? One conclusion is that the major change in response to the problem is the recognition that, when looked at from new perspectives, the Ph.D. job crisis is a problem of attitude among graduate students. (MSE)