This morning the Institute of Student Employers, with the support of AGCAS, has released new research looking at the impact of Covid-19 on student recruitment. You will need to be an ISE or AGCAS member to access the full research. However, Gabi Binnie and I have summarised the main findings in a new blog this morning Down but not out. How the student labour market is responding to Covid-19.
If you want an even briefer picture, it goes something like this…
There are 800,000 young people about to leave the education system. They will be hitting the labour market at about the same time as those who are being made redundant at the end of the furlought scheme. This is going to create a very challenging labour market.
In the short-term the picture is becoming clear. Student recruitment for this year is down but not out. Employers are reducing their numbers, but continuing to recruit (especially graduates). However, businesses have substantially moved their recruitment and learning and development processes online.
The medium-term picture is still unclear. Businesses have still not decided their recruitment numbers for next year, decided, but there are some worrying signs. Furthermore, many business processes look like they are moving online for good.
All in all we are in for a rocky ride, and it still isn’t clear what the new normal is going to look like.