The largest drop in vacancies was in the financial services sector, down 45%. The sector with the most growth in vacancies was energy and utilities, which increased 31%.
"The story of the current graduate market is the story of the economy – stagnant in places with growth in some areas," said AGR chief executive Stephen Isherwood.
"With these results in mind, my message to students is do not despair, graduate employers are broadly hiring the same number of graduates as they did before the credit crunch hit. Be competitive and strategic in your approach to applications and keep persevering."
Regional growth
Despite an overall decrease in vacancies, the survey indicates pockets of growth around the UK. There were increases in the number of graduate vacancies in the south east (up from 10% to 12%), the west midlands (up from 6% to 8%) and Scotland (up from 5% to 7%).
The survey of 200 employers found there are 85 applicants for every graduate vacancy and London attracts the highest median graduate starting salary of £28,500.
O2 HR director Ann Pickering said more needs to be done to make graduates employable and ready for the business world.
"Having grown up with the Internet, young people have the digital skills we need to add real value to UK businesses in this digital age, but not enough is being done to harness them," Pickering said.
"Whether it's by providing apprenticeships, internships, work experience placements or even something as simple as interview advice, businesses, big and small, have a responsibility to help the next generation get their foot on the career ladder."
