University graduates are having a tougher time entering the job market than ever before, according to new research.
Things aren’t looking good for freshly minted university graduates looking to enter the job market.
The current Australian youth unemployment rate is double the national average and competition for good jobs is intense, according to a newly released report from Graduate Careers Australia.
The report, entitled Graduate Destinations 2014, is a study of new higher education graduates. More than 100,000 graduates took part in the 2014 survey and the results were released last week.
Research showed that only 68 per cent of bachelor graduates from the class of 2014 had a full-time job four months after graduating. That is the lowest full-time employment rate for new graduates since Graduate Careers Australia began measuring in 1982.
To put it into perspective, the long-term average for the past three decades is 80.6 per cent.
The previous low (70.6 per cent) was in 1992. The 68 per cent refers only to graduates who are available to work full-time. Those who study further, or who choose not to work immediately, are excluded. So the result is not because more graduates are taking a “gap year” after their studies. Outcomes are worsening for the graduates who want to work.
The 68 per cent is also only for Australian citizens and permanent residents. Overseas students, who represent a large share of Australian university enrollments but whose full-time employment rates within Australia are lower, are also excluded.
Male bachelor degree graduates (64.8 per cent) were more likely to be available for full-time employment than their female counterparts (59.0 per cent ) at the time of the 2014 GDS4, and they were also more likely to undertake further full-time study, the report showed.
As found in previous years, the majority of males in full-time employment at the time of the 2014 GDS were employed in the private sector, followed by health, government,and education.
Females showed a slightly different employment profile. While they were also most likely to be employed in the private sector, they were found in employment in health and education notably more often than males.
What do you think about the Graduate Careers Australia report?