
Many undergraduates are considering the alternative option of self-employment, according to a new study. Nearly 1,000 full and part-time students were surveyed, and almost two-thirds revealed they are intending to become self-employed after finishing their degrees. They feel it’ll be a better route to avoiding the troubles of the unpredictable UK job market.
Wage growth rose above 2 per cent, and unemployment fell in March 2015, according to official figures. The Bank of England governor Mark Carney?warned that productivity ? the main drive behind higher wages ? still remained weak however. Nevertheless, the drop of 35,000 for unemployment figures meant the total stood at 1.82m ? a seven-year low. The UK’s unemployment rate is now the second-lowest in the EU after Germany ? the highest rates are 25 per cent in Greece and 23 per cent in Spain. The number of people in work was up to over 31m, an increase by 202,000, the highest since records began in 1971. So, there’s certainly some positivity among a strong labour market, but David Kern, chief economist at the British Chambers of Commerce, said that?businesses need a continued period of stability in order to deliver the growth and prosperity that “we want to see?. Instability and unpredictability remain then, and for British students, the competition is another unappealing factor contributing to their turn towards entrepreneurialism. Andy Harrington, the public speaking expert and entrepreneur who commissioned the study, said: ?The highly competitive nature of the world’s job market is carving a new era of entrepreneurialism, where young people can and will build a successful career for themselves.? With up to 160 graduates after one position, 70 per cent of respondents admitted they were now rethinking their future, with only two per cent feeling they have the sufficient interview skills to triumph over other applicants. This in itself raises questions over whether enough is done to help students ahead of graduate applications, and the dangers surrounding too much competitive spirit ? not everyone fares well when encouraged to pit themselves up against others. The research found 57 per cent of undergraduates were planning or considering a self-employed career. Harrington feels the UK is becoming more encouraging and helpful towards those looking to start their own business. ?Such a leap would have been difficult in the past, but we are now living in an information age where individuals and small businesses can compete on a level playing field with larger firms simply by harnessing the web to become go-to experts,? he explained.- Will PwC’s scrapping of A-level criteria lead other employers to follow suit?
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