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Archive for August 12th, 2008

Grad employment holds firm - just get a good degree

August 12th, 2008

You know the credit crunch is bad when… If you want to know what your degree will be worth, it’s about £100k over your lifetime. That’s a lot of plays on a casino website. The good news is that the graduate jobs market is holding firm – the latest survey showing the lowest graduate unemployment rate for 5 years (just 5.6% are out of work – mainly geeks and layabouts – or computer science and creative arts graduates to give them their proper name). Confirmation sadly, that the grade of your degree also plays a part in getting work – the lower the grade, the worse the employment rate. Just 3.7% of first holders couldn’t find work. Let’s not get too drunk: the figures don’t take in the full extent of the credit crunch (just the start of it) and they are skewed by courses which lead directly to specific careers, such as medicine and teaching. These have very low unemployment rates - in medicine it is only 0.2%. With a third of all graduate vacancies in banking and finance, it will be interesting to see what next year’s figures will be like…actually it won’t be that interesting at all.

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Airlines cut flights by 60 million seats

August 12th, 2008

Chris Credit Crunch Tarrant With a full tank of petrol increasingly matching the GDP of Ghana, the global airline industry will fly 60m fewer seats in the run-up to Christmas – the equivalent to a 7% cut in flights (it only dipped 5% after 9-11 when you had more chance of getting Mister T on a plane than me). Ryanair, easyJet and BA are all reducing services. Even my Virgin flight to Mexico has been knocked around. Bastards. Its sad: 1,700 aircraft have been to the skies since 2005, and so we can expect stalwarts like Boeing, Rolls Royce and Airbus to feel the pinch from something of a boom time. The global commercial airline fleet is estimated at 19,000 fact fans. A third of the global capacity cuts are taking place in the US domestic market, but the transatlantic market is moving in the opposite direction with a 1% increase in seats - due to the Open Skies treaty that has liberalised air travel between the US and Europe.

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