UK graduate jobs outnumbered graduates by 1m in 2020, research reveals | Greater training

The UK has almost one million graduate-level jobs with out certified employees filling them, based on a report for universities that predicts the labour market’s urge for food for graduates will stay sturdy within the close to future.

Using information from official sources, the report printed by Universities UK discovered there have been 15 million folks with levels or equal {qualifications} working within the UK on the finish of 2020 – and almost 16 million positions in managerial {and professional} occupations outlined as graduate-level jobs.

The figures are supported by information from the Organisation for Economic Co-operation and Development, which present that whereas 14% of the UK’s workforce are overqualified for his or her present jobs – together with graduates working in non-graduate occupations – greater than 27% are classed as “underqualified”, together with non-graduates filling graduate-level roles.

The UUK report is an try and rebut misconceptions about graduate employment, corresponding to that undergraduate levels could be poor worth or that too many graduates are unable to search out expert employment.

But demand for graduates remained excessive in the course of the Covid pandemic, based on the Institute for Student Employers. It says the variety of graduate vacancies is now 20% increased than earlier than the pandemic in 2019. Job vacancies for graduates are anticipated to extend once more this yr in contrast with 2021.

Prof Steve West, UUK’s president and the vice-chancellor of UWE-Bristol, mentioned: “Despite some questioning the value of graduate skills, this report shows that employer demand for UK graduates is significant – it has increased year on year and is likely to grow in the future.

“It is important that the UK government develops the right conditions for universities to fully support business growth and skills development for learners of all ages. To be clear, this means that the UK government must invest in a sustainable long-term funding solution for higher education.”

Michelle Donelan, the upper training minister for England, mentioned the figures “show just how important higher education and skills are for the UK’s future”.

Donelan mentioned the federal government was “taking forward the biggest reforms to post-18 education in a decade” in England. “We aim to further improve graduate outcomes and continue to drive up quality to deliver the highest-quality education for students from all walks of life,” she mentioned.

The authorities’s current proposals embody rising the price of undergraduate pupil loans for college kids in England, in order that decrease and center earnings earners are more likely to have to search out £30,000 extra to repay their loans from subsequent yr.

The authorities can also be consulting on the introduction of minimal GCSE grades required to qualify for pupil loans, which critics say would largely cease some school-leavers from deprived backgrounds happening to increased training.

The UUK report reveals that the variety of UK employees in skilled occupations rose by 647,200 in 2020, whereas these in different roles fell by 817,000 in the course of the first yr of the pandemic.

Stephen Isherwood, the chief government of the Institute of Student Employers, mentioned: “In both the short and long term the demand for skilled graduates is only going to increase. To ensure that employers can access the talent they require right across the UK economy, it is imperative that we continue to invest in graduate talent.”

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