Two thirds of graduates waiting to start their first jobs after completing their studies in Britain have had their applications put on hold or withdrawn entirely since the coronavirus pandemic was declared, according to a survey.
The study, conducted by Yougov for the Bright Network group, an online careers website connecting students with employers, showed how the pandemic had hit confidence among graduates.
Some 83 per cent of students due to graduate this year say they feel under increased pressure because of the turmoil brought by coronavirus.
Bright Network founder James Uffindell said graduates “need all the help they can get” to understand the opportunities available to them “in these uncertain times”.
Of the more than 5,000 students surveyed, just under half were confident of securing work after university before the outbreak hit. But that figure has now dropped to a third, the survey suggested.
The research also found graduates were less keen to work in London than in previous years, with only a third of graduates expressing an interest in working in the capital, compared with 63 per cent in 2019.
“It’s incumbent on universities, employers and services like out to step up our support to ensure graduates are getting into the right careers – helping to rebuild an economy that will have been severely impacted by the coronavirus pandemic,” said Mr Uffindell.
This year’s university graduates are likely to enter into the most challenging jobs market since the financial crisis or even the Great Depression of the 1930s, with world economies facing sharp contractions this year.
The UK economy could shrink by as much as 35 per cent in the second quarter of this year as the country grapples with one of Europe’s worst coronavirus outbreaks, the government’s budget watchdog said on Tuesday.
The country’s gross domestic product (GDP) could fall by 13 per cent over the course of the year, the Office for Budget Responsibility said.
And the IMF on Tuesday warned that the pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three percent this year, with the potential for an even worse outcome.
The coronavirus downturn will slash $9 trillion (Dh33 trillion) from the world economy, IMF chief economist Gita Gopinath said.
“Overall, this year’s research has highlighted a real change in mentality about the future workforce,” Mr Uffindell said.
“There’s no doubt today’s graduates face a challenging time ahead.”
Neil Thomson – THE BIO
Family: I am happily married to my wife Liz and we have two children together.
Favourite music: Rock music. I started at a young age due to my father’s influence. He played in an Indian rock band The Flintstones who were once asked by Apple Records to fly over to England to perform there.
Favourite book: I constantly find myself reading The Bible.
Favourite film: The Greatest Showman.
Favourite holiday destination: I love visiting Melbourne as I have family there and it’s a wonderful place. New York at Christmas is also magical.
Favourite food: I went to boarding school so I like any cuisine really.
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UAE currency: the story behind the money in your pockets
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
More from Rashmee Roshan Lall
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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The specs: 2018 Audi R8 V10 RWS
Price: base / as tested: From Dh632,225
Engine: 5.2-litre V10
Gearbox: Seven-speed automatic
Power: 540hp @ 8,250rpm
Torque: 540Nm @ 6,500rpm
Fuel economy, combined: 12.4L / 100km
Company%20profile
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Company%20Profile
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP5
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