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Generation Y?

Dr Paul Redmond from the University of Liverpool has produced some interesting figures:

  • Vacancies with leading UK firms down by 24%
  • Worst hit: banking (-47%), retail (-26%) and accountancy (-15%)
  • Microsoft: 5000 applications for 25 jobs
  • Public services (+51%), armed services (+17%)
  • 1 in 6 18-24 year olds currently unemployed
  • Institute of Directors: “according to a survey of 500 directors, when recruiting, 64% said employability skills were most important.”
  • HSBC Group Chairman commented that, “recent recruits include a graduate who taught English and Spanish in Guatemala; one who ran a restaurant; another who worked in the Beijing Paralympics; a Punjabi singer who’s been on TV. Another graduate from Cameroon had published a book and set up a small business selling second hand clothes from New York to Africa, before joining HSBC.”
  • Dr Redmond comments that the credit crunch is leading to a more proactive, muscular version of employability.
  • Contacts, extracurricular achievements and culturally validated experiences have a high currency value.
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