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Recession recalculation could spell good news for graduates

Published: Tuesday, 02 March 2010   Category: Banking and Finance

Students who have recently left university and are looking for graduate jobs in banking and finance may be interested to hear that the Britain's climb out of recession in the final quarter of last year was stronger than first thought.

Initially it was reported that in the fourth quarter of 2009, the British economy grew by 0.1 per cent, signalling an, albeit minor, end to the recession. But for those looking for opportunities in the City of London things may be looking up.

The Office for National Statistics confirmed last Friday (February 26th) that the economy actually grew by 0.3 per cent in the final quarter, making the first time the economy had grown since the first quarter of 2008, when the recession officially began.

Commenting on the figures, Adam Chester at Lloyds TSB said: "A sigh of relief that actually we have indeed pulled out of recession in the fourth quarter."

Once the effects of the recession settled in, many high-level employers cut back their graduate recruitment but with the outlook improving slightly many banks, including Santander, are beginning to hire again.

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