AUSTRALIA 32% OF RECENT GRADUATES FROM UNIVERSITIES ARE UNABLE TO FIND JOBS AND THOSE FINDING JOBS FEELING THE SALARY RATES IS STAGNATED AS DEGREE HOLDERS IN PHARMACY MEDICINE AND MINING ENGINEERING GRADUATES CAN GET JOBS BUT NOT THOSE HOLDING DEGREES OF SOCIAL SCIENCES CHEMISTRY AND PSYCHOLOGY TO REMAIN UNEMPLOYED Recent university graduates are more likely to be out of full-time work than ever before and starting salaries for graduates have stagnated, new figures show. The latest annual survey by Graduate Careers Australia shows that full-time employment rates and the earnings advantage of completing a degree both hit record lows in 2014 for recent graduates. Thirty-two per cent of university graduates who wanted a full-time job had not found one four months after completing a degree in 2014 - up from 29 per cent last year and topping the previous record of 29 per cent in 1992. These figures are really concerning, said Grattan Institute higher education program director Andrew Norton. They are worse than the 1990s recession but without the recession. Mr Norton said the decline was most likely due to the growing number of students enrolling at university and a reluctance among employers to take on new workers since the global financial crisis. Undergraduate university enrolments have soared by 23 per cent, or 110,000 students, since 2009 following the uncapping of student places. In 2008, before the global economic downturn, 85 per cent of university graduates had found a full-time job four months after finishing their degree, compared with just 68 per cent this year. More than 100,000 recent graduates completed the Australian Graduate Survey (AGS). These figures indicate that the labour market prospects of new bachelor degree graduates, which fell in the 2009 AGS as a result of the global financial crisis and did not change notably between 2010 and 2012 before falling again in 2013, have again fallen, the report says. Recent pharmacy, medicine and mining engineering graduates were most likely to have full-time jobs, whereas social sciences, chemistry and psychology graduates were among the most likely to be unemployed or underemployed. Employment opportunities have deteriorated significantly for recent law graduates. A quarter of law graduates were seeking permanent employment in 2014 four months after finishing their degree - up from 9 per cent in 2008.
Posted on: Fri, 23 Jan 2015 09:03:31 +0000
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