The UK labour market this autumn is somewhat uncertain, given the current economic and political turbulence. The picture is mixed and likely to keep evolving. According to LMI expert Charlie Ball, the percentage of overall job vacancies is down 17% compared to same time 2021. However, there were increased job adverts in 14 of the 28 online job advert categories. The largest of these was in the ‘graduate’ category, which rose by 13% and is the same level as a year ago. The proportion of graduates in non-graduate roles has risen over the past year but remains below pre-pandemic levels.
Take a look at the current UK picture – and at our tips below to make the most of the careers support available to support you during these turbulent times.
On Jobs vacancy board Indeed, job postings are 43% above the pre-COVID baseline, although much growth is driven by non-graduate roles. Graduate roles growing strongly include therapists, social scientists, production and manufacturing, and medical professionals and technicians
The Institute of Student Employers (ISE) Student Recruitment Survey October 2022
- Projected student hiring levels have slowed following explosive post-Covid growth. 53% expect that an economic recession will cause them to recruit fewer graduates in the coming years
- Recruitment decreased from 26% in 2021/2 to 6% in 2022/3. Last year many recruiters struggled to fill some roles. 12% of graduates reneged on job offers and 14% rejected offers
- Increased financial pressures on employers will lead to a reduction in hiring levels. However, employers’ needs for a higher-skilled workforce will focus on the need to attract and retain early talent
- Student salaries are not keeping up with inflation. This may mean increased competition for higher paid roles
- Recruiters are now looking more broadly at graduate recruitment and fewer are insisting on a 2:1
- Employers are harnessing virtual and hybrid working practices. This is increasing for those who may previously have been excluded from opportunities. This has led to an increase in the diversity of hires
- Hybrid working is now a skill recruiters seek in applicants. This summer 53% of internships were hybrid, providing these students with the opportunity to develop this skill
- More recruiters are now continuously hiring. Rather than relying on the traditional cycle of recruitment to fill roles, recruiters are aiming to fill harder-to-fill roles
- 100% of recruiters taking part in the survey expect a change of government to increase recruitment
- 80% of recruiters do not specify a particular degree as an entry requirement with even fewer (6%) a Masters
- Of those graduates securing apprenticeships 38% are at Master’s level and 25% at Degree level
- In the next 5 years employers predict that technological changes, automation, AI and climate change will lead to opportunities to expand their business and hire more students
What does this mean for Warwick students?
- Applicants should prioritise acting early to secure positions
- Keep an open mind. Most graduates do not require a specific degree for most graduate jobs unless there are specific technical/vocational requirements. That means more not less opportunities to consider
- Get used to networking with graduate recruiters who are now back on campus. Come and meet them- they are keen to meet Warwick students. They don’t bite!
- Get experience. This includes hybrid and virtual opportunities. URSS, Volunteering and part time work also count
- Take advantage of the many opportunities to develop your skills. Apply for the Warwick Award
- Check out our online resources for support with Assessment Centre practice tests
- Watch our Interview videos demonstrating good and bad responses to interview questions
- See our YouTube channel for tips on different aspects of the recruitment process
- Attend workshops that will enable you to improve your CV, applications, prepare for interviews and assessment centres. Book through MyAdvantage
- Book a 1-1 appointment – check who offers the help you need
Make the most of the wide range of careers support available to you while you’re at Warwick.