Keep applying for jobs despite credit crunch, graduates told

Despite reports that the credit crunch could affect hiring at UK companies, an expert has advised graduates to keep on applying for jobs as normal.

Elspeth Farrar, Communications Director for the Association of Graduate Careers Advisory Services (AGCAS), said that the effects of the current financial situation are not yet clear, but companies' recruitment plans for this year do not seem to be overly affected.

She said that 'very large recruiters' may cut back on their hiring during 2008, but added that 'it's too early to tell' what the situation will look like in 2009.

Ms Farrar added that the sector 'most obviously affected' is likely to be finance and recommended that students may want 'think about broadening their ideas about who and what they might be applying for.'

However, she explained that 'most' employers have indicated that they still plan to recruit next year.

In fact, research from AGCAS published in February revealed that vacancies for graduates are expected to rise by 16.4% during 2008.