AGR: Graduates face tough labour market this year

The traditional summer job hunt for graduates leaving university is likely to be harder than usual this year, according to the Chief Executive of the Association of Graduate Recruiters (AGR).

Speaking to the Guardian, Carl Gilleard said many big City firms are cutting back on their intake of graduates in a bid to reduce costs, as the credit crunch has eaten into their profits.

He advised that in order to circumvent this situation, university leavers should widen their nets when it comes to job hunting and be willing to accept a position that may not be perfect.

'Just ask yourself how flexible you are both in terms of the career that you want and the distance you are prepared to travel,' the newspaper reported him as saying.

A shrinking labour market is just one of the challenges graduates face this year. For example, new figures from Chartered Institute of Personnel and Development suggest that increasing numbers of employers are using a range of tests in the graduate recruitment process.