Telecommunications company BT announced today that they would be suspending their graduate recruitment scheme with no current plans to reintroduce it, citing the recession and “headcount pressures” as the reason for the axe.
This comes on the same day as The Institute of Chartered Accountants in England and Wales (ICAEW) claim the recession is over, thanks to the biggest increase in business confidence since 2007.
Findings from the survey of over 1,000 chartered accountants show a record rise in confidence from -28.2 at the end of March, to +4.8 at the end of June, "suggesting the UK recession is at an end" according to ICAEW’s CEO Michael Izza.
Also today, the CBI have called for part of the Government’s £500m recruitment fund to be used to create 50,000 new apprenticeships, and for businesses to be given a subsidy of £2,500 for training younger employees.
Director General of the CBI, Richard Lambert said “Young people are being hardest hit by unemployment, and the government must increase the opportunities available to limit its scarring effects."
So, how will BT’s decision affect graduate unemployment? Have your say in the comments below.