Graduates more likely to be jobless than non-graduates
The unemployment rate among last year's graduates is higher than the national average, according to figures from the Higher Education Statistics Agency.
In its annual survey of graduate destinations, 5.9% of respondents who completed their first degree in 2003/4 said that they were unemployed. While the figure is down on the previous year, when 6.2% were unemployed, it is higher than the national unemployment rate of 4.7% in the second quarter of this year.
The number of graduates who had found employment was 73.6%, up 0.9% on the previous year. The highest proportions of graduates working were in medicine and dentistry, subjects allied to medicine and education – all had employment rates above 80%. Graduates most likely to be unemployed were in computer science (11%), with creative arts and design, engineering and technology, and mass communications and documentation all above 8%.
Not all graduates in work had found jobs that required a degree, however. More than a third said they were not in a graduate-level job, although for the majority having a degree was a formal requirement or expected of them.
Male and female graduates reported different starting salaries: the median starting salary for men was £1,000 more than for women at £17,000, and men were also more likely to get the highest-paying jobs. More than three times more men than women landed starting salaries above £40,000.
For some graduates further study was desirable or required of them. 23.9% continued to study, although the proportion was slightly down on the previous year. The highest proportions were in law, at over 50%, and maths and physics, which were both above 30%. More than two thirds of those still studying were working at the same time.
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