In 2013 the Office for National Statistics published its report ‘Graduates in the UK Labour
Market 2013’. This post summarises some of the key points from that report.
In April to June 2013 there were 31 million people in the UK not enrolled on any educational course who were either men aged between 21 and 64 or women aged between 21 and 59.
12 million of these people were graduates, meaning they held a qualification above A level standard.
The percentage of graduates in the population has risen from 17% in 1992 to 38% in 2013.
In 2013 graduates were more likely to be employed, less likely to be searching for work and less likely to be out of the labour force (inactive) than those people with lower qualifications or no qualifications.
However the percentage of graduates working in non-graduate roles has risen, particularly since the 2008/09 recession. This suggests the increasing supply of graduates and the possible decrease in demand for them has had an effect on the type of job they are doing.
Some Key Facts
- In 2013 there were 12 million graduates in the UK.
- Steady increase in the number of graduates in the UK over the past decade.
- In April to June 2013 graduates were more likely to be employed than those who left education with qualifications of a lower standard.
- Non-graduates aged 21 to 30 have consistently higher unemployment rates than all other groups.
- Non-graduates aged 21 to 30 have much higher inactivity rates than recent graduates.
- Over 40% of graduates worked in the public administration, education and health industry.
- Graduates were more likely to work in high skilled posts than non-graduates.
- Annual earnings for graduates reached a higher peak at a later age than the annual earnings for non-graduates.
- In 2013 those graduates that had an undergraduate degree in medicine or dentistry were the most likely to be employed and had the highest average gross annual pay.
- Graduates from the top UK universities earned more than graduates from other UK universities.
- Male graduates were more likely to have a high or upper middle skill job than female graduates.
- Six in every ten people who lived in Inner London were graduates.