20 May 2020
The coronavirus pandemic has affected every area of our lives, including the jobs market and graduate opportunities. Here, Jodie Elwis considers the outlook for universities and their students.
Gov.uk recently released the latest statistics for the Graduate Labour Market which show the condition of the market in England for graduates and postgraduates compared to non-graduates for 2019. (Spoiler: on average your salary is better off with a degree than without.)
So now seems like a good time to start our blog on the graduate labour market, as 2020 is looking significantly different from any other year we’ve experienced, and you wonder what statistics will be reflecting back on this time next year.
Analysis on this subject is quick to change and a lot is still open for speculation of what this will mean in the long term. This blog will aim to bring you subject-specific insights for our region as the weeks go on.
For now, let’s get up to speed with the current state of the student and graduate labour market.
Just like the general labour market, the short- to medium-term picture is not pretty, however we must take encouragement where it is not all doom and gloom. Even though education leavers are set to be hit hard, looking to entering the labour market at such a difficult time, all data so far suggests that graduates are less likely to be impacted as heavily as those with lower qualifications (Resolution Foundation). The market has not stopped, it still exists and so there are opportunities for our students to look and prepare for. Where they have been asked, many employers have indicated a desire to stay in close contact with universities.
In future blogs, I'll dissect more of the detail of some of the sources used here as well as including newer analysis when released.
Please make use of the comments section to continue discussions, or tell us about analysis you would like to see in future blog posts.