JOB prospects for new graduates continue to look bleak with employers'
demands expected to dip a further 4% this year following a fall of 15%
last year, according to a report published today.
There is little cause for optimism in the Incomes Data Services
seventh annual survey covering more than 100 major employers which does,
however, show considerable variation between organisations.
While Ford has virtually suspended graduate recruitment for 1993 --
after recruiting 128 graduates last year -- and BP, ICI, Barclays Bank,
and Norwich Union are also cutting back on their traditionally high
recruitment. Nestle, Abbey National, Royal Insurance, and British Sugar
plan to increase the number of graduates recruited.
Scottish companies taking part in the survey include the Bank of
Scotland, which expects to take on 10 new graduates this year compared
with 12 in 1992 and 23 a year earlier, the Royal Bank of Scotland, where
the corresponding figures are 20, 19 and 45, Scottish Amicable, 18, 30
and 35, and Scottish Equitable 12 to 14, as against 12 last year and 23
in 1991.
Overall, the picture is one of depressed demand made all the worse
because it will coincide with a record number of graduates -- 163,000,
an increase of 9.4% on a year earlier -- due to be released on to the
jobs market later this year.
Not surprisingly, those who do find jobs are unlikely to receive
starting salaries much higher than in 1992, reduced demand and low
inflataion having contributed to a predicted average salary increase of
only 2.9%.
Meanwhile, according to a report by education inspectors, more than a
third of 16 to 19-year-old students drop out or fail their courses.
As many as 150,000 sixth-form and further education college students
leave full-time studies each year without completing their courses or
getting the qualifications they hoped for, it disclosed.
Pay and Progression for Graduates, IDS Top Pay Unit, 193 St John St,
London, EC1V 4LS
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