Finance graduate job seekers are being confronted with a "bleak" situation when they leave university, it has been claimed.

Speaking to the Journal, Leah Ganley, of pressure group Youth Fight for Jobs, said she was seeing record increases in people applying for university due to limited employment prospects.

"All normal revenues for employment are being closed off. For students about to graduate, it’s a very bleak situation," she told the news provider.

"Since 2008, £1.3 trillion has been spent by the British government in bailing out banks, providing guarantees for the financial sector and other fiscal stimulus measures. We need that sort of investment in creating jobs for skilled workers."

Ms Ganley’s comments follow the release of new statistics that reveal a significant increase in the number of people claiming Jobseekers Allowance (JSA).

The government’s latest Labour Market Survey states that the JSA claimant count increased by 23,500 between December and January 2010 to reach 1.64 million, the highest figures since April 1997.

The Journal also reports that the number of students from Edinburgh’s Heriot-Watt University who are still seeking employment six months after graduating has more than doubled to 8.3 per cent.

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