Last week brought the news that the labour market is becoming more graduate friendly – but in hindsight this declaration may have been a little premature.
It’s bad news again for job hunting graduates, as a study reveals that up to 66 unemployed people apply for every retail job.
Due to the high application rate, vacancies were often closed within days – or in some cases, hours – of being advertised.
And to add insult to injury, two thirds of applicants did not receive any sort of response from companies.
The results, published by Joseph Rowntree Foundation (JRF) stem from an experiment set up to determine the current state of the jobs market.
Some 2,000 job applications from fictional candidates, all of whom had at least five good GCSEs and relevant work experience, were sent to more than 650 vacancies for office administrators, kitchen staff, sales assistants and cleaners.
Depending on the supply of jobs in different areas, between 24 and 66 people applied for every retail vacancy – some of which were closed to candidates within days, if not hours.
The results also revealed that just one in four of the vacancies offered full-time, day-time work.
The gloomy report has been published ahead of new unemployment figures poised for release today (18 October).
Chris Goulden, head of poverty at JRF, said: “On the day of the latest unemployment statistics, this report makes for grim reading for young people.
“The intense competition shows the main problem is more fundamental – a major shortage of jobs.
“A lack of success in the jobs market saps confidence, demotivates and leaves a scar across a generation of young people, while part-time, low-pay work traps people in poverty,” he added.
JRF are not the only ones using the labour market as their personal laboratory. Back in September, a Masters level graduate posted a fake job ad on the New York edition of Craigslist and received over 650 responses in 24 hours
Are you considering undertaking post graduate qualifications to escape the unlikely jobs market? Or are you keen to get a foot on the career ladder?