Almost a third of graduate jobs have been cancelled or deferred due to the corona virus pandemic
Covid-19 will reshape the employment market and nothing illustrates this better than its immediate impact on graduate jobs in 2020, with close to a third of graduate jobs being cancelled or deferred due to the pandemic.
Covid-19: Immediate Impact On Graduates
Prospects have completed a poll on the graduate job market and the findings are stark:
- 28% of final year students have had their graduate job either rescinded or put on hold
- 47% are now considering applying for post graduate courses
- 30% are considering changing their career choices
60% of graduates typically secure a job role before leaving university, albeit not always a graduate level position. The above figures mean that this isn’t likely to be the case in 2020/21 and beyond.
Close to a third of graduate job roles have been cancelled or deferred due to Covid-19
Covid-19 impacting future career prospects
75% of graduates feel that Covid-19 will heavily impact their future career prospects.
With a quarter of the UK workforce, 7.5m people, on the governments job retention furlough scheme, it is hard to disagree with the views of graduates. We know many businesses will be forced to make redundancies in the coming months, and the first roles to go will be vacancies and offers to new employees.
Not All Doom and Gloom
Not all is lost for graduates, as with the 2008 recession when I was in a graduate role myself, there will be opportunities during what is a difficult time for all, and now is the time for students, graduates, and those in their early careers, to consider what they have to offer employers, the types of roles they wish to pursue, and how to put any downtime they may have to good use.
The need to separate yourself from the competition has never been more important
Your Horizon was created because the graduate job market can be difficult to navigate, as are the early years of your career. You only have to look at the graduate job market statistics before covid-19 to see this: 48% of graduates never attain a ‘graduate level’ job role, 2.3m graduates are seeking employment at any one time against an average of 30,000 graduate job roles per month, and the average graduate job vacancy receives over 80 applications.
Your Horizon offers students and graduates a programme of career skills learning and personalised coaching that maximises their potential, supports them in achieving their career goals and separates them from the competition.
If you think this could help you or someone you know, contact us for more information.