Saturday, July 16, 2011

Almost 9% unemployed six months on from graduation

 Job seekers search for employment opportunities at a Graduate Recruitment Fair at the ExCeL Centre in London on April 19, 2009. Britain will unveil a recession-fighting budget this week, seen as vital for Prime Minister Gordon Brown as he struggles to boost his flagging fortunes ahead of a likely election next year. Britain, in its first recession since 1991, has been hit hard and is battling soaring unemployment and public debt, plus a slumping property market and tax revenues. AFP PHOTO/Ben Stansall (Photo credit should read BEN STANSALL/AFP/Getty Images) HORIZONTAL Searching for jobs at a graduate recruitment fair. Six months on, nearly 62% of graduates from the class of 2010 were in work. Photograph: Getty

Nearly 9% of the graduate Class of 2010 was unemployed six months after leaving university, according to figures published on Friday which also show that Buckingham university has the best employment record of any institution.

Nearly 62% of graduates were in work and a further 7% were combining work and further study, the figures show.

A total of 14.5% were in further study only, just over 3% were not available for employment and a similar percentage did not answer the question.

The latest figures show an improvement on last year when just over 66% were either in work or combining work and study, but indicate that the graduate job market has not yet returned to pre-credit crunch levels.

The equivalent data for the class of 2006 show that just over 71% were employed or combining work and study after six months.

A poll of employers published in June found that a sustained recovery of the graduate recruitment market is underway with vacancies expected to rise by 2.6% this year. But that survey, for the Association of Graduate Recuiters, also indicated intense competition with an average of 83 candidates chasing each job.

Data published by the higher education statistics agency on Friday show that Buckingham, a private university, had a 100% employment record. However this was based on just 55 graduates.

Among larger institutions, Surrey fared best, with a 94.8% employment rate.

Three small specialist institutions, the School of Pharmacy, the Royal College of Music, and Ravensbourne, a digital media college in London, also had a 100% employment record.

The University of East London had the poorest employment record, at 78%.

The figures are based on a survey with a response rate of 83%.

University courses with a poor track record of employment will be "named and shamed" under reforms outlined by the government.

For the first time, universities will be required to give detailed information about the employment and earning outcomes of specific degrees when applicants are choosing courses. David Willetts, the universities minister, is concerned that too many degrees are not valued by employers.

Ministers are encouraging universities to work with employers to co-design, accredit or "kitemark" courses. This is intended to indicate to students the courses that employers value most.

Scrapping or overhauling "dead-end" courses would limit losses to the taxpayer from students who fail to repay their loans. More than a third of English universities will charge the maximum ?9,000 as their standard fee from next year, despite wide variations in employability.


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