Graduate jobs are at risk due to the spread of coronavirus in the UK. Employers have reduced the number of graduates they are looking to hire, and also reduced the number of internship positions.
Coronavirus has devasted businesses across the UK leading to loss of jobs and workers being furloughed. Companies have also postponed their hiring targets amid losses, with only a few industries such as health care unaffected.
Graduate jobs have also taken a hit due to these lockdowns and employers are now slashing the number of graduates they look forward to hiring once the economy reopens.
How many graduate jobs will be lost
Data released shows that companies are reducing the number of graduate jobs by 12 percent. The data continued by showing that companies are also cutting the number of internships and placements by 40 percent while others are canceling enrollment of both graduate job applicants and internships
However, should not be a source of despair because, while comparing to the economic collapse of 2008/09, graduate jobs will come back. During that crisis, the Institute of Student Employers was able to obtain data that showed there was a spike in the number of graduates needed in jobs involving science, technology engineering and mathematic fields (STEM).
The 2008 data compares perfectly with the current situation, where the UK economy is currently struggling due to lockdowns. For now, many employees are still hiring graduate employees across multiple disciplines although at a reduced rate. A quick glance at job boards indicates employers still have open vacancies.
There are still some positives happening amidst the coronavirus pandemic and an economic collapse scare. For employers who are hiring, they have replaced face to face interviews with zoom interviews for graduate job applicants. Employers who are still looking for interns have shortened their terms and are working with them to ensure they gain the necessary experience in the industry.
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