It is a rather disheartening read, but there is hope! I wouldn't give up on the modular route, if you've got the cash for integrated then do modular and put your leftover £40K into a rating or a post-qualified programme like CTC whateveritscalled rather than giving Oxford £80K for £40K worth of training!
I went modular in 2011 and I have found some part-time aerial work here in the UK, but that was only because of contacts. I have a strong suspicion that without those contacts I'd still be moping about and crying into my shiny new blue book.
Let 2012 be the year for modular trained folks getting jobs!