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Being one of the most well developed countries of the world, UK is supposed to have most number of job opportunities for the graduates and undergraduates. But the scenario is not like the same. After the financial crisis of 2007-2008 the job market in the UK is going through a…
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Download file to see previous pages... The main objective of this paper is to analyze the present employment situation in the UK market along with the history of job opportunity before and after the financial crisis in the UK in 2007. The paper is also emphasizing on the role of the government to combat that situation and also discuss about a suitable model for the UK government which can assist them to increase the rate of employment in the country.
The recent survey clearly represented the fact that, most of the well-known British companies enrolled lesser number of graduates in 2012 compared to that of 2011. The recent data from the top 100 companies of the UK clearly suggested the fact that slow recruitment rate is the clear indication of sustained economic indecision in the corporate sector which was started during the financial crisis in the year of 2007. The data available from top 100 companies clearly represented the fact that there is 0.8% less graduate-level jobs available in those companies. The most affected sectors are the investment banking and accounting firms. According to Walker, (2013) “the drop reverses a trend which saw rises of 2.8% and 12.6% in 2011 and 2010, which followed sharp falls amid the global financial crisis in the two previous years. There is mixed news for those leaving university this year and currently buried under applications forms. On a positive note, the companies surveyed said they expected overall vacancies to nudge up by 2.7% this year.” (Walker, 2013). As per the opinion given by several top recruiting agencies, in the recent years most of the vacancies are expected to be filled up by the people who have prior work experience with them. The demand for the experience professional is going to be nearly 50% in case of the law firms and almost 75% in case of the various leading investment banks. (Walker,2013)
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