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Graduate Labour Market Statistics - latest data

13 replies

focuzzed · 28/06/2024 13:28

I noticed this 2023 graduate labour market data was published yesterday, and haven't seen any news articles yet. If I get some time over the weekend I'll probably download the data and see if it says anything interesting.
Posting it here in case others are interested too: explore-education-statistics.service.gov.uk/find-statistics/graduate-labour-markets/2023

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SugarandSpiceandAllThingsNaice · 28/06/2024 13:32

Very interesting, shows the higher your degree, the more likely you are to have a job!

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boys3 · 28/06/2024 14:16

The initial interesting part is the caveat set out in the 2nd para on the main page around the challenges with the Labour Force Survey (upon which all the data is based) and the associated increased sampling variability.

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SandyIrving · 28/06/2024 15:15

Interesting about the postgraduate stats. Recent feedback one of mine got for a position where she was rejected was you were good but were competing against postgraduate and/or post-experience. No quotas for undergraduates. She really doesn't want to spend the money/time on postgraduate study (social science).

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TizerorFizz · 28/06/2024 17:59

@focuzzed

Ive attached what I think is worrying! The median salaries for young grads and post grads. I know this means the higher outliers might be discounted but @boys3 , am I right to think these salaries are very low? I can see elsewhere that too many grads aren’t getting skilled work.

I can see why employers want experience and that’s why I bang a drum for getting a cv together which includes some relevant work, if you can. Obviously for some it’s difficult, and I get that, but just a degree with not much else I do think can limit job prospects. However firms recruiting grads cannot expect much experience but there are so many career changers now, the 22 year old can be cast aside as others have a track record. No wonder 50% don’t pay back loans!

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TizerorFizz · 28/06/2024 18:00

Forgot it!!

Graduate Labour Market Statistics - latest data
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titchy · 29/06/2024 11:55

Haven't read in detail (though will be interested to hear what boy3 has to say later!) but those salaries are equivalent ones based on 2007 figures. Actual salaries are much higher - £40k for grads.

I think the key thing in these figures is the differential between non-grad, grad and post-grad, rather than the raw figures themselves. Which I suspect won't agree with the LEO data produced by HMRC, but should be more accurate.

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TizerorFizz · 29/06/2024 23:13

They aren’t £40,000 for 21-30 age group. It’s not the easiest report to read! It’s got huge employment sectors and quite small ones. Construction as highest paid is just wierd. Who did they ask? Must have included overtime.

Graduate Labour Market Statistics - latest data
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titchy · 29/06/2024 23:29

Presumably grads in construction are going to be engineers and surveyors? But yeah not terribly robust data!

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TizerorFizz · 30/06/2024 00:07

That’s quite high for both. Neither might be qualified by the mid point of that age bracket so it’s very surprising.

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focuzzed · 30/06/2024 12:25

Yeah, disappointing data. I was anticipating a breakdown by degree subject rather than (or as well as) industry. Both are needed really.

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titchy · 30/06/2024 12:35

focuzzed · 30/06/2024 12:25

Yeah, disappointing data. I was anticipating a breakdown by degree subject rather than (or as well as) industry. Both are needed really.

LEO data from HMRC will give you that Smile

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Ritasueandbobtoo9 · 05/07/2024 22:53

I know loads of builders - they are earning quite a lot so seems about right.

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