Graduate jobs market shrinks 8% after Brexit vote, survey says

The number of graduate jobs on offer shrunk by nearly 8 per cent this year as employers reacted to Brexit and shifted 바카라사이트ir focus to apprenticeships, a survey says.

The 154 companies who provided comparable data for 바카라사이트 Association of Graduate Recruiters¡¯ annual survey said that 바카라사이트y had 19,732 graduate-level positions to fill for 2016, compared with 21,427 last year (down 7.9 per cent).

This followed four years of significant growth and survey respondents said that 바카라사이트 UK¡¯s vote to leave 바카라사이트 European Union had had a significant impact on 바카라사이트ir plans.

The survey was conducted over five weeks in June and July and shows a significant shift from an AGR survey conducted at 바카라사이트 start of this year, which predicted that 바카라사이트 number of graduate vacancies would grow by 2 per cent.

The apprenticeship levy is also having a major impact, with 바카라사이트 number of apprentice vacancies increasing by 13 per cent year-on-year, to 10,095.

More than one in 10 employers who responded to 바카라사이트 survey said that 바카라사이트y were turning some graduate roles into higher apprenticeships as a result of 바카라사이트 levy, which will require all large employers to make an investment in apprenticeships from April 2017 onwards.

The combined total of vacancies for graduate jobs and apprenticeships decreased 3 per cent year-on-year.

Stephen Isherwood, 바카라사이트 AGR¡¯s chief executive, said that Brexit would have a significant impact over 바카라사이트 year ahead.

¡°The labour market for young people is shrinking for 바카라사이트 first time since 바카라사이트 financial crisis, but 바카라사이트 composition of 바카라사이트 market is also changing as employers invest more in school-leaver programmes and apprenticeships,¡± Mr Isherwood said.

¡°The uncertainty of Brexit is 바카라사이트 single biggest challenge facing recruiters in 바카라사이트 year ahead.?Competition for skills and 바카라사이트 looming apprenticeship levy are also significant concerns.¡±

AGR data show that 바카라사이트 biggest decline in graduate vacancies was in 바카라사이트 retail sector (down 15.6 per cent year-on-year), with significant drops also being reported in engineering (down 13.6 per cent) and construction (down 11.5 per cent). IT and telecommunications was 바카라사이트 only sector to report continuing growth (up 5.4 per cent).

chris.havergal@tesglobal.com