Year-on-year growth
As a headline figure, the 14% improvement in the graduate recruitment market over the last quarter of 2010 marks a significant step in the right direction. However, as this is one of the sectors most affected by seasonal fluctuations, real context is only provided by comparing our Q1 2011 figures with similar data from the beginning of 2010. Based on those parameters, the graduate jobs market is in rude health, with a huge 42% hike in the number of jobs from last year to 2011. In fact, the first quarter of 2011 places the graduate recruitment market at its highest level since the Barometer began.
While the number of jobs posted has risen, the applications count has increased by much more. Compared to the final quarter of 2010, the first three months of 2011 saw a whopping 50% increase in applications. And looking back to the first months of 2010, this year’s first quarter represents a healthy 37% increase.
The upshot of all of this is that, at 17, the applications per job figure is nearly a third higher than figures posted for the end of 2010. However, the more astute of you will have already noticed that the rise in jobs posted in 2010 is higher than the growth in applications, so the applications per job figure has actually fallen in the past year, from 18 to 17.
This can still be viewed positively, however, as the past two quarters (Q1 2011 and Q4 2010) represent the highest number of applications seen since the Barometer began in early 2009.
“Graduate recruiters have started to loosen their belts on budgets and graduate vacancies have increased across the board. The confidence in sectors such as manufacturing, services and IT has led the charge but we are also starting to see the banks and financial institutions pick up their games in recruiting more graduate talent. If the double-dip has been truly laid to rest, then we can expect similar increase in graduates vacancies from Q1 to Q2.”
Mike Fetters, Graduate director, totaljobs.com
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