New figures from the ONS reveal that while unemployment continues to fall, younger age groups and those working in hospitality are still taking a disproportionate hit.
Geoff Smith, CEO, of tech talent disruptor, Grayce, argues that these figures don’t match the reality for all sectors, and that there is still a growing demand for skilled young graduates in the jobs market.
Smith said, “Although these figures show positive signs of recovery for the overall job market, it’s troubling to see that young people are still struggling, as the value they can bring to the UK workforce is incredibly high.
“As digital innovation continues, our banks, supermarkets, healthcare systems and law firms continue to be disrupted by ever-evolving technology. The pandemic has shifted much of our lives online, and with the latest delay to the loosening of restrictions, the need for digital and tech-focussed skillsets has never been greater.
“We’ve seen first-hand how the demand for skilled professionals in change, data and tech has grown, now servicing 65% more clients than we were in 2016.
“While the pandemic has caused a seismic shift in many industries, the ONS’ figures demonstrate how it has also decimated employment opportunities for young people, who are now facing the toughest job market since the financial crash in 2008.
“Figures from the ONS’ graduates report in March showed that one in eight graduates are currently out of work, and over a quarter (25.5%) of those who are employed are in unskilled or low-skilled roles.
“These stats are shocking and present a dark cloud for the thousands of talented and career-hungry young people graduating this summer, and the figures released today show that younger groups are still falling behind.
“!After paying tens of thousands for their education, these groups rightfully deserve the high-skilled, well-paid graduate jobs they have studied for.
It is our overarching mission at Grayce to support and develop more of the UK’s best young talent, and although today’s figures paint a grim picture, the situation facing our next generation of workers is what gets me out of bed every morning and inspires us to connect more graduates with the roles and companies they deserve.
“We receive over 2,000 applications per month to join our Development Programmes, a 95% increase from 2016 and a 60% increase from our last pre-pandemic financial year. Our intake of Analysts has increased by 67% in the last 12 months alone and we have helped over 1000 graduates start their careers, we are fully committed to making this rise even further.”