Recent trends indicate that graduates in the UK are facing significant challenges in the job market as competition for positions reaches an all-time high. Data suggests that nearly 950,000 people graduated from university last year, yet many have found it difficult to secure employment in their desired fields. One graduate reported applying to 647 jobs before finally obtaining a position.
Employers are responding to the surge in applications, with some companies reporting a 15% increase in competition for graduate roles. In fact, recruitment firm Reed noted a 70% decrease in advertised graduate positions compared to two years ago. Major firms, including Deloitte and KPMG, have notably scaled back on their graduate schemes.
Despite these difficulties, industry experts maintain that job opportunities are still available, albeit not concentrated in major urban centers. UK government projections forecast a demand for an additional 11 million graduates by 2035. Julie Stokes from Cardiff Capital Region mentioned that while applications for roles in HR and communications are abundant, there is a discernible skills shortage in specific sectors, particularly finance.
Experts advise graduates to consider smaller, less established companies rather than focusing solely on large multinational firms. Owain James, organizer of a specialist job exhibition, emphasized the importance of showcasing opportunities from all types of businesses. Many graduates overlook positions at smaller organizations that may offer valuable experience.
The creative, tech, and life sciences sectors are identified as key growth areas in the UK, particularly in Wales. Although concerns abound regarding the job prospects for graduates, there remains a commitment from companies to invest in early talent. As the job market continues to evolve, graduates are encouraged to apply broadly and consider various avenues for employment.
Source: https://www.bbc.com/news/articles/cdx2lv50n1no?at_medium=RSS&at_campaign=rss