Good news for Graduates………….in the longer term!

Nine in 10 graduates found work amid recession

Survey finds 3.2% of class of 2009 unemployed three and a half years after graduating, down on 2007 but up oNn 2005


Almost 75% of 2009 graduates felt their course had prepared them well for their career. Photograph: Christopher Furlong/Getty Images

Only a tiny percentage of students who graduated at the height of the recession are unemployed, according to a survey.

More than eight out of 10 said they were satisfied with their career and two-thirds thought their course had given value for money, the survey of more than 60,000 graduates by the Higher Education Statistics Agency found.

About 87% of the class of 2008-09 were in work three and a half years after graduating, 6.7% were engaged in further study and 3.2% were unemployed. Some 7.2% had been jobless six months after they graduated.

The unemployment rate after three and a half years was lower than it was for 2007 graduates (3.5%) but higher than that of 2005 graduates (2.6%). The unemployment rate in the general population is 7.8%.

The study revealed differences in employment rates between subject areas, with 89% of 2009’s medicine and dentistry graduates saying they were in a job, compared with 72% of history or philosophy graduates.

Of the overall 2009 cohort, 83% reported career satisfaction and almost 66% described their course as value for money. Almost 75% felt their course had prepared them well for their career.

Median salaries for graduates in full-time work was £24,000. Men employed full-time were on an average of £25,000, while women were on £23,500. Medicine and dentistry graduates had an average income of £30,000, and those who studied art or design averaged £15,000.

Nicola Dandridge, chief executive of the vice-chancellors group Universities UK, said: “These are encouraging figures and highlight the signs of recovery in the graduate jobs market after the recession. Graduates from UK universities are in demand from employers, both here and overseas, and are more likely to be employed and earn more than non-graduates over a working lifetime.

“Employment figures looking at what graduates are doing three and a half years after graduation are far more useful than those relating to six months after graduation. We know that the majority of those graduates who do not go straight into work six months after graduating are in full-time employment three years later. Some graduates will have postponed looking for a first job in order to undertake further study, to get work experience or for other reasons such as periods of travel.”

David Willetts, the universities minister, said: “As these figures demonstrate once again, a degree remains an excellent investment, and one of the best routes to gaining a good job and rewarding career. Even during a recession graduates have considerably higher employment rates than those without degrees.”

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1 Response to Good news for Graduates………….in the longer term!

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