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Graduate jobs market to become competitive
Wednesday, 19 March 2008
Graduate Job sector Reports
The UK's graduate jobs market will become increasingly competitive, leaving many graduates facing a grueling search for employment, a new report suggests.
Many companies are responding to widespread economic uncertainty and the global credit crunch by cutting back on their recruitment programmes, the Telegraph reports.
Figures quoted by the newspaper suggest that there will be a quarter of the graduate vacancies of recent years available in 2008, leaving 270,000 students coming to the end of their degrees fighting for just 75,000 jobs.
John Philpott, chief economist of the Chartered Institute of Personnel and Development (CIPD), predicted: "Graduate recruitment may not dry up entirely but employers will be more picky and it will become more competitive."
A study published in 2007 claimed that around one in four graduates spend several years in unskilled work after leaving university.
The Association of Graduate Careers Advisory Services claims that many firms are selecting only graduates with firsts or 2.1s in their honours degrees, leading to a recruitment shortfall and complaints that there are "not enough applicants with the right qualifications".