Graduates face tough jobs market

People graduating from universities this year face one of the toughest jobs markets in almost two decades, according to research by High Fliers Research.

The survey of 100 graduate recruiters found hiring targets had fallen by 17% for 2009, with the financial services sector - traditionally a popular destination - reporting a 47% decline.

"Not only have vacancies been reduced substantially for those finishing university in 2009, but it is now clear that many of last year's entry-level jobs did not materialise either, leaving many graduates from the class of 2008 out of work too," said Martin Burchall, managing director of High Fliers Research.