Sustained improvements in economic conditions in recent years have brightened young graduates' prospects for employment and wage growth. This report focuses exclusively on those graduating from college. This study analyzes data on recent young college graduates (ages 21-24) to learn about the Class of 2018's economic prospects as they start their careers. The report begins by providing a demographic snapshot of this population of young college graduates. The second section discusses what shares of these young graduates are now enrolled in further schooling, employed, both, or neither. The third section narrows focus to only those graduates who are not enrolled in further schooling to find out how they are faring in the labor market--specifically, looking at their unemployment and underemployment rates. The report also draws on literature that highlights the likelihood that many young college graduates will end up working at jobs that do not require a college degree. The fourth, and final section analyzes the wages of those who are employed (and not enrolled in further schooling), making comparisons with earlier periods as well as looking at important differences by gender and race/ethnicity. Because of the progression of the economic recovery and substantial declines in the unemployment rate, members of the college Class of 2018 currently have better job prospects than the classes of 2009-2017 did. However, compared with those who graduated into the 2000 labor market, the Class of 2018 still faces real economic challenges, as demonstrated by elevated levels of underemployment as well as worsened wage gaps, particularly for women and black workers.