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Graduate jobs 'suffering due to downturn'

Published: Wednesday, 14 January 2009   Category: Graduate Job sector Reports

A new report has indicated that the number of UK graduate job placements have declined by one-fifth.

Research conducted by High Fliers indicates that many employers have scaled back their hiring plans for 2009 as a result of the economic downturn.

City jobs such as investment banking have been worst affected, it is claimed, while the biggest gains in employment opportunities have come in the public sector.

Martin Birchall, managing director of High Fliers, said it was clear that the number of vacancies for university leavers had been cut for this year, while many of last year's entry-level jobs appear not to have materialised either.

However, a spokesman for the Department of Innovation, Universities and Skills commented: "Those going to university are investing in their future and will benefit over their lifetimes from higher education, particularly in years to come when there will be more highly skilled jobs, not less."

The spokesperson added that the government would be offering "real help and support" to jobseekers through with forthcoming schemes such as a national internship programme.

Major firms such as Microsoft and Barclays have already signed up to the intern scheme, which will see employers take on graduates on short-term temporary contracts.

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