Pandemic Leaves One in Eight Recent U.K. Graduates Unemployed
(Bloomberg) -- About one in eight recent graduates was looking for a job in the third quarter of last year as the pandemic limited employment opportunities.
Unemployment among those who recently obtained a degree almost doubled to 12%, the Office for National Statistics said on Monday. That compared with unemployment of 5.1% in the wider population.
The figures underscore the plight of those trying to start their careers at a time when swathes of the economy remain closed in an effort to fight the coronavirus.
While the lockdown has hit low-skilled jobs the hardest, many firms are recruiting fewer graduates. As new entrants to the labor market, recent graduates aren’t benefiting from government wage subsidies supporting millions of people who were in work when the pandemic struck.
They are nonetheless faring better than young people with lower level qualifications. The unemployment rate for those age 16 to 24 stood at 13.6% in the second and third quarters of the year.
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