Tuesday, 23 December 2008

More downturn information

The Office of National Statistics new formulation of GDP for the three months to September (they do this from time to time because data from some industry sectors takes a little while to come in completely) shows that the UK economy contracted more than first thought last quarter.

Without getting bogged down in too much statistical detail (I like it, but you might not), what does this mean for graduate employment?

Obviously, there's been a fall in output in the finance industry, and in construction. Manufacturing also saw a big drop. But there was also a decline in the hotel and leisure industry (in fact, this industry saw the biggest fall of all in Q3), electricity and gas and, to a lesser extent, transport and logistics - so these might all be areas where graduate will find fewer opportunities available in 2009.

We also have mixed messages in retail - Q3 was bad but it remains to be seen how the last 3 months of 2008 went.

Industries still growing included telecomms, health, education. Some parts of finance are also still growing although the public accounts don't make it easy to tell.

In January, we'll get a better picture of the state of the economy - at the moment, we just have to share what we know.

Tuesday, 2 December 2008

A short snippet about engineering

From time to time we get asked questions and do a bit of research as a result. A lot of the time, we produce something and send it to the person who asked the question and then it never again sees the light of day (until someone else asks).

Yet some of these questions (and their answers) are quite interesting, so we'll start to share them with you, our Loyal Reader.

Today, I got asked about trends in graduates going into jobs in engineering. So, here's the answer - over the last 5 years, the number of graduates in engineering 6 months after graduation looks like this.

We persistently say that there is demand for graduate engineers, and there it is in black and, er, red. There is, and it's been increasing.

(added 16/12) Whether it will continue to increase is not something I can definitely say at the moment - we shall have to wait and see.

(Data comes from the HESA Destinations of Leavers of Higher Education survey 2006/7)

Frequently Asked Questions

Great start to the blog - we kick off and then go 4 weeks without a post. Not ideal.

We have a section on prospects.ac.uk that looks at the most frequently asked questions about the graduate labour market. I suppose we could be accused of lack of imagination in that we call them 'Labour Market FAQs', but it's a good name and it fits.
They are being updated this month, with answers to questions like 'What is the average starting salary for graduates' and 'How many graduates enter the job market each year' - and a whole host of other questions. Very useful if you need this kind of information on a regular basis.
We try to be impartial and where there is conflicting information (inevitable for this kind of work) we report all of it and try to explain what the different bits of data mean.
But do we cover everything people need? Take a look and if you think there's something missing, let us know - after all, it's not our FAQs - they are there for HECSU and Graduate Prospects' users.