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Graduates face poor job prospects

(China Daily)
Updated: 2009-04-30 07:46

Almost two-thirds of students leaving universities this summer do not expect to find a graduate-level job in an economy hit by recession and rising unemployment.

A survey of over 16,000 final year students showed confidence in the graduate employment market has dropped to a 15-year low; many students fear an uncertain start to their working life.

Related readings:  UK graduates face poor job prospects  Job situation not as bad  Stimulus package doing its job: Chinese Premier  Klinsmann's job on the line

The number of leavers who have already secured a definite job offer during the annual student recruitment round has dropped by a third this year compared with 2008, the survey by independent researchers High Fliers showed.

Half of student job hunters fear that even if they do find a job, the offer may be withdrawn before they start work or they will be made redundant in their first year of work.

"Final year students due to leave UK universities this summer are gloomy and frustrated about their employment prospects," said Martin Birchall, managing director of High Fliers Research.

"Having invested an average of 15,000 pounds ($21,600) in their degrees, thousands of finalists are now set to leave university without a job offer and feel they have little prospect."

The survey showed a dramatic fall in applications for graduate jobs in banking, finance and property - all sectors which have suffered badly since the credit crunch which prompted a global financial crisis and sharp economic decline.

Instead, more university-leavers have applied to work in the public sector, teaching, engineering, the charity or voluntary sectors and the armed forces.