The class of 1990 faces more competition for prestigious graduate jobs in Britain due to slowing economic growth. Optimistic forecasts for the job market are being revised as interest rates rise, hurting sectors like housing, retail, and consumer goods. While languages and international experience will remain valuable, recruiters in the private sector and some retailers plan to reduce graduate hiring. However, public sector jobs in utilities and healthcare may see more openings as these industries restructure with a need for analytical managers. Graduates without work experience or extracurricular achievements will have a disadvantage, especially arts graduates, who should consider opportunities in growing public services and privatized industries.
The class of 1990 faces more competition for prestigious graduate jobs in Britain due to slowing economic growth. Optimistic forecasts for the job market are being revised as interest rates rise, hurting sectors like housing, retail, and consumer goods. While languages and international experience will remain valuable, recruiters in the private sector and some retailers plan to reduce graduate hiring. However, public sector jobs in utilities and healthcare may see more openings as these industries restructure with a need for analytical managers. Graduates without work experience or extracurricular achievements will have a disadvantage, especially arts graduates, who should consider opportunities in growing public services and privatized industries.
The class of 1990 faces more competition for prestigious graduate jobs in Britain due to slowing economic growth. Optimistic forecasts for the job market are being revised as interest rates rise, hurting sectors like housing, retail, and consumer goods. While languages and international experience will remain valuable, recruiters in the private sector and some retailers plan to reduce graduate hiring. However, public sector jobs in utilities and healthcare may see more openings as these industries restructure with a need for analytical managers. Graduates without work experience or extracurricular achievements will have a disadvantage, especially arts graduates, who should consider opportunities in growing public services and privatized industries.
Competition for prestige positions will be fierce for the class
of 1990
ptimistic forecasts made before the
New Year about demand for graduates in 1990 are being torn up. There is no more talk about unprecedented opportunities for students to shop around for the ideal job. 10Instead, the class of 1990 is being warned that, although there will be more than enough jobs, their range of choice will be much more constricted. They will be told to think more of long-term job security when targeting their 15career area, rather than the short-term appeal of money or glamour. The sectors of the economy suffering most from high interest rates are now known. Service industries of all kinds in the South of 20England are under pressure. Manufacturing industries in the North, especially those with significant export involvement, are doing better. The large Blue Chip graduate recruiters in the private sectors, such as IBM, BP, and 25others agreed that they would be downgrading their graduate recruitment. Interest rates are starting to bite. Any activity associated with housing and mortgages is suffering. Estate agents are finding 30times hard. One leading firm is reducing its intake from 46 to 35 this year. Retailers, especially those with involvement in household products and discretionary spending such as fashion, are likely to be reducing their gradu35ate intake. One of the high street fashion chains is reducing its graduate intake by half this year. But it is not all doom and gloom. There are areas of growth. Events on the Continent, 40particularly in Eastern Europe, have put a premium on those graduates able to operate abroad. Graduates fluent in European languages linked to work experience in the EC will be very attractive. The same goes for 45those with Eastern European languages. But it is likely to be a two-way process. For the first time, British companies such as Marks
and Spencer have begun to look for
continental graduates. In 1990 employers will 50be looking for more top quality graduates defined either by their outstanding personal qualities, previous work experience or strong vocational skills than ever before. The squeeze will be on the marginal graduate. 55 Graduates with no record of extra-curricular achievement, vocational qualifications or work experience will find themselves at a disadvantage. Arts graduates, in particular, will be at risk. They should turn to the public 60sector and the recently privatised utilities, such as British Gas, British Telecom and the water authorities. British Gas, for example, is recruiting 285 graduates this year instead of 240 last year. 65 under the Governments reorganisation of the National Health Service, administrators are being replaced by analytical-minded managers to handle the change. It is not surprising to learn that there is a major review taking place 70to see how many more graduates will be needed over and above the 50 they tried to recruit last year. In fact, the NHS only recruited 38, with many of their offers being turned down in 75favour of more attractive jobs. Graduates should no longer view public services as second best in terms of job satisfaction compared with the private sector. The great administrative bureaucratic structures have been 80broken up into leaner, meaner entities. Over the next five years, no matter what the result of the next election, the public services can expect some relaxation of limits on investment. Anyone joining the public service of the 85Nineties is probably coming in at the start of another cycle of growth. [Adapted from THE OBSERVER, Feb 11, 1990; 566 words.]