Photograph: Tim Robberts/Getty Images
The last eight months or so have been tough for everyone, but especially for those under the age of 25. Over the space of this year, “generation lockdown” has seen pretty much every aspect of their lives seriously curtailed by Covid-19 - from A-level results to graduation ceremonies.
So it’s no great surprise that the career prospects of the“corona class” of 2020 have also been profoundly affected. Young people now face what many have predicted to be the bleakest jobs market in 75 years, with graduate recruitment falling by 30% or more in some countries, according to a July report by the Institute of Student Employers (ISE).
So which sectors are still recruiting?
While it’s clear that some sectors such as travel, retail and hospitality are struggling, others, including technology, finance and healthcare have fared reasonably well.
Companies that have made the switch to remote working smoothly, and those that are experiencing high demand for their services – Amazon, Deliveroo and Ocado to name a few – are still hiring. Likewise, those organisations whose staff are classified as key workers, especially within the public sector.
Tristram Hooley, chief research officer at the Institute of Student Employers, says that even during the worst recession, some organisations still thrive. “Industries that don’t rely on direct interaction with customers, such as finance and digital, are generally faring better,” he says.
But what if you don’t want to work in one of those sectors? Should you shift your career in a new direction? According to Hooley, this depends partly on how long you think the pandemic is going to last. “It’s about understanding what opportunities are out there and rethinking your next move in the light of what’s available,” he says.
Are companies continuing their graduate schemes?
Many employers are continuing their graduate schemes virtually or asking graduates to defer for a year, according to Claire Williams, director of people and services at CIPHR, an HR software company. “Some of the big four accountancy firms, for example, are offering financial incentives and sponsorship of further education to graduates who defer their jobs for a year,” she says.
Tess Smillie, VP of human resources at Samsung UK, says her company is proud to have been able to continue its class of 2021 graduate programme remotely. “The technology sector remains a growing industry and hopes to upskill graduates to tackle some of the biggest issues through creativity, collaboration and problem-solving,” she says.
What sort of skills do I need in today’s jobs market?
The good news is those traditional transferable skills, such as commercial awareness, flexibility and being well organised, are still in high demand.
“My advice to graduates is to think about what they were good at and what they enjoyed during their course and also their work, life and voluntary experience,” says Tamsin Millns, director of graduate recruitment firm Step. “Drawing on a wide range of experiences will, ultimately, make them more employable.”
Do graduates still have the edge over their peers?
In a word, yes, says Rosalind Lowe, head of policy and engagement at The National Centre for Universities and Business. “Graduates are still highly employable and are more likely to work in sectors of the economy that have been less affected by lockdown, such as health, IT and finance,” she says.
However, the longer the crisis goes on, the greater the challenge graduates and their employers face. “We need to learn from the 2007-2008 financial crisis, where policy interventions came too late and many graduates experienced long-term wage detriment that lasts to this day,” says Lowe.
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