26 Sep 2014
New figures suggest there has been a significant fall in graduate unemployment in the UK.
Research by the Higher Education Careers Service Unit (Hecsu) and the Association of Graduate Careers suggest that 70% of new graduates were in employment by January 2014.
The report looked at the destinations of 256,350 new graduates six months after they left university. Some 7.3% were unemployed in January 2014, down from 8.5% in January 2013 and the lowest level since 2008.
The researchers also suggest that greater employment prospects have resulted in fewer graduates going moving into further study – some 12.4% of the total, down from 13% the previous year. Some 5.6% were combining work and study, leaving 7.3% unemployed and 4.7% listed as “other”.
The figures also suggest more graduates were in professional and managerial work – 66.3% of new graduates, compared with 64.9% the previous year, and fewer were working as retail, catering, waiting and bar staff – down to 13% of the total from 13.7% the previous year.
Hecsu’s Dr Charlie Ball said: “There are significant increases in employment across all sectors and the turn in fortune is spreading beyond the South East with graduates in cities such as Birmingham and Manchester doing particularly well.
“If you are located away from the major cities and are yet to feel the upturn, there’s a good chance it will reach you in the months to come, assuming there are no further shocks to the economy – although there are no absolute guarantees.”