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Half graduate recruiters cut jobs | Half graduate recruiters cut jobs |
(about 2 hours later) | |
The number of vacancies for graduates this year is expected to be down for the first time since the 2003 dot.com collapse, a survey of recruiters shows. | The number of vacancies for graduates this year is expected to be down for the first time since the 2003 dot.com collapse, a survey of recruiters shows. |
The recession's impact is clear in this winter's bi-annual survey by the Association of Graduate Recruiters. | The recession's impact is clear in this winter's bi-annual survey by the Association of Graduate Recruiters. |
Overall vacancies are down 5.4% on last year - with starting salaries frozen at the 2008 average of £25,000 and down as much as 8% in the financial sector. | Overall vacancies are down 5.4% on last year - with starting salaries frozen at the 2008 average of £25,000 and down as much as 8% in the financial sector. |
But some sectors - such as engineering and food and drink - want more people. | But some sectors - such as engineering and food and drink - want more people. |
Association chief Carl Gilleard said: "The only certainty is uncertainty." | Association chief Carl Gilleard said: "The only certainty is uncertainty." |
The association represents hundreds of big recruiters of graduates in the private and public sectors, and 245 - who between them recruited 21,144 graduates last year - contributed to the latest survey. | The association represents hundreds of big recruiters of graduates in the private and public sectors, and 245 - who between them recruited 21,144 graduates last year - contributed to the latest survey. |
Just under half of the organisations (46%) expected to hire fewer graduates this year - two thirds of them saying this was due directly or indirectly to the economic downturn. | Just under half of the organisations (46%) expected to hire fewer graduates this year - two thirds of them saying this was due directly or indirectly to the economic downturn. |
But the downturn is not as pronounced as in 2003, and nothing like as bad as in 1991 and 1992, when vacancies fell by 32% and 14%. | But the downturn is not as pronounced as in 2003, and nothing like as bad as in 1991 and 1992, when vacancies fell by 32% and 14%. |
'Silver linings' | 'Silver linings' |
However the survey last summer turned out to be inaccurate. It had predicted a 12% rise in vacancies whereas it is now clear the slowdown had already begun. | However the survey last summer turned out to be inaccurate. It had predicted a 12% rise in vacancies whereas it is now clear the slowdown had already begun. |
Nevertheless this year's report says: "By and large, while no-one doubts the seriousness of the current economic downturn, the picture for graduate recruitment, though worrying, could be bleaker. | Nevertheless this year's report says: "By and large, while no-one doubts the seriousness of the current economic downturn, the picture for graduate recruitment, though worrying, could be bleaker. |
"There are even some silver linings with growth predicted in the engineering and public sectors - both of which are likely to appeal to graduates seeking job security this year." | "There are even some silver linings with growth predicted in the engineering and public sectors - both of which are likely to appeal to graduates seeking job security this year." |
The biggest growth in job vacancies, at 12.9%, is expected to be in the so-called FMCG sector: fast moving consumer goods such as food, drink, tobacco and cosmetics. | The biggest growth in job vacancies, at 12.9%, is expected to be in the so-called FMCG sector: fast moving consumer goods such as food, drink, tobacco and cosmetics. |
Traditionally this would favour women graduates, with a 58% / 42% gender split. | Traditionally this would favour women graduates, with a 58% / 42% gender split. |
The biggest decline is in investment banking - down 28%, while construction is 16.6% down on last year. | The biggest decline is in investment banking - down 28%, while construction is 16.6% down on last year. |
London and the south-east of England as ever account for the lion's share of vacancies, (55.9%), with 10.5% in the Midlands, 5.2% in Scotland, 1.5% in Wales and 0.9% in Northern Ireland. | London and the south-east of England as ever account for the lion's share of vacancies, (55.9%), with 10.5% in the Midlands, 5.2% in Scotland, 1.5% in Wales and 0.9% in Northern Ireland. |
'Apply early' | 'Apply early' |
Employers' advice to those who do not get their ideal job straight away is to take some form of paid work if they can - rather than doing further study, unless it enhances their employability. | Employers' advice to those who do not get their ideal job straight away is to take some form of paid work if they can - rather than doing further study, unless it enhances their employability. |
Only 40% thought taking a year off was a sensible move. | Only 40% thought taking a year off was a sensible move. |
Graduates should thoroughly research the firms they want to work for - and half of the employers said applying early would be particularly important. | Graduates should thoroughly research the firms they want to work for - and half of the employers said applying early would be particularly important. |
The shadow innovation, universities and skills secretary, David Willetts, said the survey made sober reading. | The shadow innovation, universities and skills secretary, David Willetts, said the survey made sober reading. |
"Employers are feeling the pinch and cutting jobs as a result. This problem is made worse by the difficulty they face in finding graduates with the right skills." | |
This was echoed by IT companies. Software firm Micro Focus, which builds and supports major enterprise systems, said it simply could not find UK graduates with the skills it needed. | |
"These systems run UK plc, but the people to maintain them are dwindling fast and universities simply aren't supplying the graduates for the job," a spokesman said. | |
The government is telling young people not to be put off applying to university. | The government is telling young people not to be put off applying to university. |
England's higher education minister David Lammy said going to university was still and always would be a good investment. | |
"People considering applying to university should do so. A degree can help you not only get your first job but also throughout a career that may span up to 45 years." | |