Coronavirus: Job offers for graduates withdrawn wholesale after pandemic strikes

Recruitment frozen as students prepare to graduate during worst recession for a century

File photo: Students from University College London celebrate with friends and family following a graduation ceremony. Reuters

Two thirds of graduates waiting to start their first jobs after completing their studies in Britain have had their applications put on hold or withdrawn entirely since the coronavirus pandemic was declared, according to a survey.

The study, conducted by Yougov for the Bright Network group, an online careers website connecting students with employers, showed how the pandemic had hit confidence among graduates.

Some 83 per cent of students due to graduate this year say they feel under increased pressure because of the turmoil brought by coronavirus.

Bright Network founder James Uffindell said graduates “need all the help they can get” to understand the opportunities available to them “in these uncertain times”.

Of the more than 5,000 students surveyed, just under half were confident of securing work after university before the outbreak hit. But that figure has now dropped to a third, the survey suggested.

The research also found graduates were less keen to work in London than in previous years, with only a third of graduates expressing an interest in working in the capital, compared with 63 per cent in 2019.

“It’s incumbent on universities, employers and services like out to step up our support to ensure graduates are getting into the right careers – helping to rebuild an economy that will have been severely impacted by the coronavirus pandemic,” said Mr Uffindell.

This year’s university graduates are likely to enter into the most challenging jobs market since the financial crisis or even the Great Depression of the 1930s, with world economies facing sharp contractions this year.

The UK economy could shrink by as much as 35 per cent in the second quarter of this year as the country grapples with one of Europe’s worst coronavirus outbreaks, the government’s budget watchdog said on Tuesday.

The country’s gross domestic product (GDP) could fall by 13 per cent over the course of the year, the Office for Budget Responsibility said.

And the IMF on Tuesday warned that the pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three percent this year, with the potential for an even worse outcome.

The coronavirus downturn will slash $9 trillion (Dh33 trillion) from the world economy, IMF chief economist Gita Gopinath said.

“Overall, this year’s research has highlighted a real change in mentality about the future workforce,” Mr Uffindell said.

“There’s no doubt today’s graduates face a challenging time ahead.”