Jobs market for graduates is the worst it’s been in at least 10 years
The number of graduate job vacancies advertised in Britain has fallen to its lowest level in at least a decade, according to recruitment website Adzuna, deepening concerns about career prospects for the record numbers of school leavers heading to university. The drop matters because it coincides with a broader "jobs drought" and a wider slowdown in hiring, adding political pressure on the Labour government as unemployment rises, while also fuelling fears that entry-level roles in fields like accountancy and law are being displaced by artificial intelligence.
Adzuna recorded just 8,383 graduate vacancies last month, down 45.6 per cent year-on-year and a fraction of the 55,000 peak seen in mid-2017. This comes despite a record 262,820 18-year-olds set to start degrees, and against a backdrop of overall vacancies falling 9.6 per cent to 791,490, with jobseekers per vacancy rising from 1.93 to 2.14. Average graduate salaries rose slightly to £25,815, and commentators pointed to rising employment costs — including higher national insurance, minimum wage increases and energy prices — as factors discouraging hiring.
- Graduate vacancies at lowest level since records began in 2016
- Down 45.6% year-on-year despite record numbers starting university
- Overall UK vacancies also fell, competition for jobs intensifying
New here? Start with this
Graduate hiring is measured through job adverts posted on recruitment sites, and one of these, Adzuna, tracks how many graduate-level vacancies appear each month across Britain. This gives a rough gauge of how easy it is for new graduates to find suitable work after finishing their degree, and how that compares with previous years.
The issue matters because it lands at a time when record numbers of young people are going to university, meaning more graduates than ever will soon be competing for jobs. It also comes alongside a wider slowdown in hiring across the economy, rising unemployment, and higher costs for employers such as increased national insurance contributions and minimum wage rates, all of which can make firms more cautious about taking on new staff.
There is also growing debate about whether artificial intelligence is starting to replace some entry-level roles, particularly in areas like accountancy and law, which traditionally offered large numbers of graduate positions. This adds another layer to the discussion about what is driving the change, beyond the usual economic factors.