GRADUATE PROSPECTS FALLING
Graduate placements look set to fall in 2009, despite an earlier report claiming the number of graduate jobs would rise. Winter figures from the Association of Graduate Recruiters (AGR) tell a sorry tale for final year students.
Worryingly, 46 percent of organisations expect to hire fewer graduates this year, and employers now predict a 5.4 percent decrease in vacancies for 2009. Last summer they predicted an increase of 11.7 percent. The drop is not likely to be as severe as the last time vacancy numbers decreased in 2003, when the market saw a 6.5 percent downturn.
Additionally, wages are due to stick at 2008’s median starting salary of £25,000. Salary growth is only expected in four sectors this year – FMCG, the public sector, construction, and retail. Banking expects a median salary decrease of up to 8.9 percent this year.
However, cutting the ‘talent pipeline’ is a danger business will wish to avoid long-term. The Chartered Institute of Personnel and Development (CIPD) has discovered that despite the recession, talent remains a priority for most organisations.
