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28/01/2002
Graduates face increasing competition for jobs
A new survey shows that graduates leaving UK universities this year face increasing competition in the job market with fewer job vacancies available, especially in London and the East Midlands.
However, the figures also reveal that for those lucky enough to secure employment, starting salaries have risen by 3 per cent from the same period in 2000.
According to the Career Services Unit (CSU) the average starting salary for a UK graduate now stands at £18,021, with the highest paid positions in the management consultancy, IT and human resource sectors.
Scotland and Wales also performed well, reporting a regional increase in available jobs of 14 per cent and 16.4 per cent respectively. Graduates in Scotland can also look forward to healthy pay packets, having the highest regional average starting salary of £19,461.
The news isn’t so good for other of industry though, with statistics showing falling salaries in the IT sector, along with finance and retailing. Hardest hit was media, publishing and performing arts, where cost-cutting strategies have already seen companies laying off staff, reducing the number of vacancies on offer by more than 50 per cent.
CSU chief executive Mike Hill said: “Clearly this unemployment figure will increase in the short term and graduates with relevant work experience who can demonstrate initiative and, of course, achieve good grades, will have the edge when it comes to job applications.” (CL)
However, the figures also reveal that for those lucky enough to secure employment, starting salaries have risen by 3 per cent from the same period in 2000.
According to the Career Services Unit (CSU) the average starting salary for a UK graduate now stands at £18,021, with the highest paid positions in the management consultancy, IT and human resource sectors.
Scotland and Wales also performed well, reporting a regional increase in available jobs of 14 per cent and 16.4 per cent respectively. Graduates in Scotland can also look forward to healthy pay packets, having the highest regional average starting salary of £19,461.
The news isn’t so good for other of industry though, with statistics showing falling salaries in the IT sector, along with finance and retailing. Hardest hit was media, publishing and performing arts, where cost-cutting strategies have already seen companies laying off staff, reducing the number of vacancies on offer by more than 50 per cent.
CSU chief executive Mike Hill said: “Clearly this unemployment figure will increase in the short term and graduates with relevant work experience who can demonstrate initiative and, of course, achieve good grades, will have the edge when it comes to job applications.” (CL)
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Mobile phone maker Motorola is set to axe a further 7,000 jobs worldwide bringing the company’s total job cuts to 39,000 since the start of the year. Motorola chief Robert Growney revealed that around 4,000 of the latest losses were associated with sold businesses, with a further 3,000 earmarked for loss through cuts and attrition.
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SFA warns that job creation is declining rapidly
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UK new investment projects fall
The latest Ernst & Young European Investment Monitor survey has revealed that the number of new investment projects into Europe in 2001 fell by 12 per cent on 2000 figures. Countries that performed poorly in 2001 included the UK with a 34 per cent decline from 575 projects to 377.
UK new investment projects fall
The latest Ernst & Young European Investment Monitor survey has revealed that the number of new investment projects into Europe in 2001 fell by 12 per cent on 2000 figures. Countries that performed poorly in 2001 included the UK with a 34 per cent decline from 575 projects to 377.
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