A report published by the Institute of Student Employers (@IoSEorg) shows the negative impact the pandemic has had on graduate jobs globally, even in countries where Covid-19 cases and deaths have been low.
Analysis of 21 countries by ISE shows that graduate hiring is down by more than 30% in some locations including Northern Ireland, Italy and Denmark.
Although experiencing fewer deaths as a result of Covid-19, Australia and New Zealand have reduced graduate jobs by 1-14% as have England, Finland and the US.
Eight countries including Ireland, Hong Kong and South Africa have cut graduate jobs by 15% to 29%.
The Covid-19: Global impacts on graduate recruitment report was commissioned by the International Network of Employers and University Careers Services (INEUCS) to gather evidence about the global graduate labour market during Covid-19.
Looking ahead to next year, the research also showed that while a minority of countries (notably Italy, Malaysia and Finland) expect the situation to get worse for graduates, the majority, such as England, Ireland, Denmark and the US, anticipate that the contraction will slow down.
However, Canada, South Africa and New Zealand expect the market to stabilise while Belgium, Poland and the UAE anticipate growth.
Stephen Isherwood, CEO of the ISE commented:
“Graduates across the globe face a difficult jobs market. With local labour markets contracting and opportunities to work overseas reduced, graduates need to be focused and resourceful in their search for work.
“No one is saying that recruitment will cease altogether and we should not encourage students to view the graduate labour market as an homogeneous entity. A flexible mindset about location, industry and type of work will help students uncover previously unimagined opportunities.
“Recessions do end and graduate employers with corporate memory of previous downturns will have 2023 on their minds. Cut too deep into graduate hiring this year and businesses will lack trained talent in key roles when growth returns.”
Bob Athwal leads INEUCS on behalf of GCS Summit, which he co-founded with Tom Devlin. He said: “The report provides one of the first collaborative global perspectives of the impact of the Covid crisis on the world wide collegiate marketplace and its effect on the labour market.”