UK graduate job vacancies plunge to lowest in a decade
Summary
Graduate job vacancies in the UK dropped to their lowest point since 2016, with only 8,383 openings in July 2024. This fall comes as more young people prepare to start university, and some job sectors reduce hiring due to costs and automation.Key Facts
- Graduate job vacancies in July 2024 fell 45% compared to July 2023.
- The current vacancy level is the lowest since tracking began in 2016.
- Around 262,820 students are starting university this September, the highest number yet.
- About 1 million young people aged 16-24 in the UK are not in education, work, or training.
- Healthcare, nursing, hospitality, and logistics are sectors with fewer job openings for graduates.
- Employers cut hiring due to higher national insurance and minimum wage costs.
- Some companies prefer investing in automation and AI rather than hiring new staff.
- The only sectors with increasing graduate jobs are travel, teaching, construction, and manufacturing.
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