The Times reported yesterday that graduate intakes were down by 15.1% across 100 leading employers last year, squeezing a generation who are disproportionately affected by economic crises.
Youth unemployment is a serious issue and one that is set to worsen
We haven’t seen the full impact of the pandemic yet. Whilst industries like retail, leisure and travel were immediately hit, multiple industries, banking and finance, professional services, public sector and engineering have been preparing for setbacks. Graduate recruitment freezes have been seen across multiple industries.
Grayce has continued to hire into our Change+ and Data+ Development Programmes with a steady growth of 27% last year. Our applications rate exceeds this growth, as more graduates look for employment.
Grayce graduates applications increase by 270%
We’ve seen significant increases in applications Grayce through the pandemic. December 2020 applications alone have increased by 270% from the same time in 2019. This is a trend we’ve continued to see through the year in every month compared to the year earlier. We aim to continue to hire more of this talented demographic and provide career opportunities.
Last year’s graduates will soon face competition from this year’s cohort. More graduates will be looking for employment at home, as gap years and distant shores remain a pipe dream. The impact goes beyond graduates. The Telegraph reported the Kickstart Programme will reduce the entry criteria of 30 minimum opportunities. The Kickstart Programme is designed to help young people in to employment, There have been rising concerns about gateway companies and that only around 2000 young people have been helped into employment since November. There are calls from experts to extend the deadline for applications.
Harness the power of emerging talent and support this generation
The situation is dire for our graduates. At Grayce we continue to champion the value that today’s graduates bring to the modern workforce. Grayce Analysts have been in high demand over the past year and we continue to work with clients to help them harness the power of emerging talent. Our Analysts are inherently equipped with the skills to work in remote environments and support cutting edge data and digital transformation.
We are committed to offering career opportunities to this generation of young people and beyond. We help our clients realise the potential of emerging talent and create a meaningful impact in the lives of our Analysts.