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The myth is surely shattered. University
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is not a springboard into the future and
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a degree does not guarantee you a job.
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New analysis reveals that over 700,000
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graduates are out of work and claiming
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benefits. The Centre for Social Justice,
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which studied data from the Labour Force
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Survey and the Department for Work and
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Pensions, claims that graduate
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joblessness is significantly higher than
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previously thought. The findings are
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stark. Of the more than 700,000
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unemployed graduates, 400,000 are
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currently claiming Universal Credit
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while more than 100,000 are claiming at
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least one other benefit. Most
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shockingly, nearly a quarter of a
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million are out of work due to sickness.
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The rate of increase is startling. The
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number of jobless grads claiming
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benefits has increased by 46% since 2019
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while the amount claiming sickness
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benefits has more than doubled since the
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year before the pandemic. One in three
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graduates sites poor health as the
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reason for not working. Looking beyond
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degree holders, there are now nearly a
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million people aged between 16 and 24
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who aren't in work, education, or
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training. The post-pandemic surge in the
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claimant numbers across the economy as a
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whole is a national emergency. But the
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Centre for Social Justice analysis also
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reveals major problems with the UK's
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approach to university education,
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warning that an increasing number of
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graduates are leaving education and
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entering the workforce without the
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skills required by today's employers.
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Despite a concerted political effort in
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recent years to promote apprenticeships,
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the CSJ's research finds that for every
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three young Brits opting for a degree
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course, just one enters vocational
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training. In the Netherlands, this ratio
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is two to one, while in Germany it is
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one to one. Apprenticeship starts for
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those under 19 have slumped 40% since
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2015. Despite the earnings premium that
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often follows such a route, the bottom
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quartile of graduates were found to earn
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24,800 pounds five years after
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completing their course compared with
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37,000 pounds for a level four
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apprentice. Recruiters have been warning
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for months that the graduate employment
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market is collapsing, but the conveyor
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belt does not appear to be slowing in
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any meaningful way. Nor is there much
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evidence to suggest that universities
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are prioritizing the skills that
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employers say they need. Now, these
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include things such as emotional
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intelligence, resilience, critical
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thinking, and of course, digital
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literacy. Smart kids should find a way
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to acquire these attributes without
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taking on a mountain of debt, and smart
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parents should help them.
