300,000 graduates chasing 30,000 jobs

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300,000 graduates chasing 30,000 jobs

The BBC report a story that in the UK in 2009 there will be 300,000 new graduates chasing just 30,000 jobs. The story is probably a slight over-estimate of the problem in that the 30,000 relate to 'leading companies', and there are some really good jobs in companies that do not count as 'leading'.

The thrust of the article is that the UK is producing too many graduates. This seems rubbish to me, for two reasons.

There is a recession at the moment, so of course things are hard.
When we have more graduates we have to expand the range of jobs that we think it is suitable for a graduate to fill (without making those jobs only available to graduates).

March 01, 2009 in Economics | Permalink