The author states that the analysis of the trends makes it clear that the Job market for graduates is evolving into a two-way process that warrants growth and development on both the employer and employees side. The graduate labor force has to adapt itself to the expanding demands of their fields. …
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Although the employment rate may have reduced in the past few years, the resultant rise in salaries and the emphasis on better productivity of the human resource by the employers are giving a more economically sustainable perspective to the labor market.
A number of surveys and researches carried out on the job market scenario for the Graduates of 2012 and the possible projections for the up-coming years point out the basic factors on which recruitment in today’s market depends. The general scenario for graduates appears to show a decrease in job openings, with a significant rise in starting salaries for graduates, hired on the basis of student experiences acquired prior to completion of the degree course.
Among these, the number of job openings in comparison to the number of graduates joining the job hunt is the greatest determining factor for the level of competition present. After the major decrease of job vacancies in 2008 and 2009 by 6.7% and 17.8% respectively as a resultant of the recession, the general trend for graduate job openings has improved in the past two years.
Consequently, it is expected that the job market of 2012 will supply a 6.4% increase in the U.K. (H.E.C.S.U & HighFliers Research Limited, 2012), 3% being graduate job openings. This figure, however, is the lowest since the economy recovered from the crisis in 2010. Therefore, in spite of the apparent increase in the number of jobs form the last year, there are other factors which have impeded the growth.
While evaluating the unemployment rate, it is essential to take into account the rising number of graduates competing for available jobs. According to the latest publication of The Graduate Market in 2012 by Higher Education Career Services Unit (H.E.C.S.U), a single job vacancy attracts an average of 83 applications (H.E.C.S.U & HighFliers Research Limited, 2012).
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Analysis of UK graduate labor market
The economist published...
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