UK youth employment to take a big hit due to the coronavirus crisis

UK youth employment to take a big hit due to the coronavirus crisis

Employers are painting a grim picture of the months to come regarding youth employment, as recruitment for both bigger firms and smaller is to be reduced dramatically. 

Lloyds Banking Group and HSBC are among the largest of the companies to cancel and delay their various recruitment and internship schemes due to the stresses and inconveniences the coronavirus crisis has imposed on them. 

According to statistics provided by the Chartered Institute of Personnel and Development a little over a quarter of all firms nationwide expect to hire fewer graduates due to the implications of the pandemic. Non-graduates will also be feeling the effects of the virus’s impact on the economy as employment for them is expected to decrease by about 23 percent. 

A large number of the bigger firms are running from their employees working from home, making the induction of new recruits almost impossible. Coinciding with this is the fact that big firms, who make up the majority of postgraduate employment opportunities, have already reported a considerable reduction in work as the lockdown recession takes hold. As a result of this these companies have shifted focus away from training new recruits or even recruiting at all. 

Senior Labour Market Advisor at the Chartered Institute of Personnel and Development Gerwyn Davies said; “Youth employment prospects are crumbling. We are already seeing evidence that recruitment has fallen sharply, which is not surprising given that the government’s focus is on preserving existing jobs.” 

The concern over the employment for young people doesn't stop with the bigger firms for jobs that require extensive training. The widespread employment of young people in sectors such as hospitality, retail and support services means that young people heavily rely on these jobs being available when jobs that require more training become unavailable. The devastating impact that the pandemic has had on these sectors means that the smaller companies in these sectors are far less likely to employ people with little experience due to the detrimental short term costs. 

Monday, 4 May 2020

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