Posted by James Budnik
As we enter the New Year, unemployment is constantly in news and as recruiters we strive to understand the job market. In my experience over the last few years as an under-graduate, job seeker and now recruiter, I have had an inside view of one of the most difficult youth employment markets in recent history. In my opinion young people, qualified or not, are facing significant challenges which are set to peak over the next 12 months.
Youth unemployment is at the highest it's been for 20 years, passing the 1 million mark in November, (http://goo.gl/JqzpU). Future prospects are even more concerning, with a recent report by the Department of Education showing that one in five 19-24 year olds are classed as 'NEET', (Not in Employment, Education or Training, http://goo.gl/fkyos). These are grim statistics but prediction are that the worst is still to come with predictions that unemployment of under 24's will rise to 42% in 2012.
One of the biggest problems facing the employment market, and young people in particular, is the vicious cycle of requiring relevant experience to work and not being able to get that experience without previous work. In the Easter holidays of my second year I was fortunate enough to successfully apply for a summer placement at Centrica, a FTSE Top 50 company. Not only did this give me the opportunity to apply what I had learnt in a professional environment, it made a valuable addition to my CV which hugely improved my employability. Unfortunately there is not nearly enough placement and apprenticeship opportunities for all of those that would benefit or wish to do them. Companies need to realise the long-term advantages of these schemes and have them fully supported by government.
Many graduates are facing similar difficulties, having to compete for an extremely limited number of positions despite holding excellent qualifications from prestigious institutions around the UK. This is still the case even 6 months after graduation and worsens when the next year's graduates enter the market. Computer Science graduates are experiencing higher than average levels of unemployment, despite it's reputation for having excellent employment prospects (http://goo.gl/XCkIU). This leaves students with a difficult decision of whether to drop their standards to find work quickly, or persist with career aspirations which may leave them unemployed for a lengthy period of time.
The government is under significant pressure to act now or risk creating a 'lost generation' of young people who have not been able to access education or gain experience through work. Nick Clegg recently announced the 'Youth Contract', (http://goo.gl/t51Id). This is a great idea but the execution may be quite challenging.
In my view, keeping an open mind on how you can apply your skills, and gaining experience whenever and wherever you can will give you the best possible chance of finding a way onto your long term career path. Investigate all opportunities that come your way, and constantly strive to find those opportunities even if they lead you in directions you had not anticipated. What is encouraging is the increasing number of young entrepreneurs that despite the difficult economic climate are harnessing technology to start their own successful businesses, (http://goo.gl/3rdCM). Perhaps this time of hardship may give rise to bright stars within UK business.
