We knew it would be bad but it’s worse than expected. The Association of Graduate Recruiters has published the summer edition of its bi-annual survey (Monday 6 July). It has found that graduate vacancies have plummeted by 24.9% in the latest recruitment round approaching levels not seen since the last recession in 1991 and far exceeding the modest dip of 5.4% predicted by the same recruiters in February. As the AGR states on its website :

In terms of sectors, accountancy and professional services has increased its share of vacancies while engineering and industrial companies has tumbled to 7.5% from the 10.1% predicted in February. IT, engineering, construction and investment banking have all seen dramatic job cuts of more than 40%, while law has experienced reductions of 19.1% .

Its a little more positive in terms of starting salaries though:

London , as always, is leading the way with an average starting salary of £29,000. Wales and Northern Ireland are at the bottom of the salary table at £21,000 and £20,166 respectively. In terms of job types, investment banking and legal work share the top spot while accountancy, previously sixth in the table, has tumbled to second from last place.

This is despite widespread salary freezes and even cuts across the profession.

Decent salary expectations are one thing but they’re cold comfort for those struggling to get a job.