According to a report in the Financial Times on 17 local time.U.K.graduatesare facing unprecedented competition for jobs as the labor market they are entering is slowing down and the number of applications per position has increased dramatically due to the use of AI.
According to the Institute of Student Employers (ISE), employers received an average of 140 applications per position on graduate training programs in 2024, an increase of 59% from 2023.This is the highest value recorded in the organization's annual survey in more than 30 years.
Stephen Isherwood, co-CEO of ISE, says the use of AI has made applying for jobs faster, but it's also led toSurge in applications, decline in quality, thus leading to more rejections.
"The job market is really harder than it used to be, there's no doubt about it." says Anne Clinton, director of career development at the London School of Economics and Political Science. She pointed out that as small businesses cut back on graduatesrecruitment, with more students competing for the remaining places in the large training program.
She also mentioned that the application process is now more labor intensive than ever. Whereas in the past a student might only have to submit 15 to 20 applications to get a job, now they may need to submit 50.
some studentsUse AI tools to help them writejob applicationand number of applications managed, but Clinton said, "The problem is that these technologies aren't good enough at personalization. Everyone is figuring out how to use it effectively, whether they're job seekers or employers."
She added: "There is so much pressure on students ...... It's beyond reasonable."