Results of the 1991-92 annual survey for 1991-92 on initial employment rates for recipients of doctoral, masters, and bachelors degrees in physics and astronomy are reported. Overall, responses indicated that the job market for recent physics degree recipients remains tight. Other findings include the following: (1) among new bachelors degree recipients, the numbers of those seeking jobs continues to decline while the numbers of those going on for graduate study is increasing; (2) those seeking jobs find that employment is scarce and may entail months of searching; (3) of 1991-92 graduates with bachelors degrees, 62 percent went on to further study, 18 percent found employment, 12 percent found temporary employment, and 8 percent continued to search; (4) of doctoral recipients, 63 percent were continuing with post-doctoral study, 23 percent had found employment, 12 percent found temporary employment, and 2 percent were still searching; (5) since the mid-1980s, doctoral degree recipients in plasma physics and optics/lasers have been most likely to find potentially permanent positions while graduates in mathematical physics and nuclear physics have been the least likely to find employment; and (6) 90 percent of foreign doctoral recipients continue for post-doctoral training. (JB)