Introduction - (120 words, 9 reshta ) Labour market condition over the decades. It seems the expansion of higher education and growing percentage of labour market entrants are gaining degrees. Therefor, employment rate has fallen to 5.5% according to (Amankwah, et al., 2015) research. The graduate labour market has been exceedingly competitive due to nearly 18,000 final year students graduating every year. Further research (Mason, Williams and Cranmer, 2009) showed that ‘’By graduates having a structured work experience and employer involvement, it can lead to a positive effect on the ability to secure employment in ‘graduate level’ jobs’’. As to impact of extra curriculum can result in strong employment growth, good opportunities for …show more content…
The stability of demand and supply in the labour market can be essential as it is reflected at the level of wages and salaries, which can determine the level of demand. If the amend is high in relative supply it can lead to a rise in earnings. This can be an advantage to the labour market as it can indicate an increase in the employment rate, which in turn will cause demand for human resources to drop, this view has been supported by (Anon.,2015). If, by variance, supply is high relative to demand, employment costs would decrease. Yet, recent research Richard, et al., (2005) suggests that changes in labour taxes may have a permanent impact on unemployment due to taxes being shifted onto labour. The level of unemployment can be affect labour market as According to Lipsey (2004), the average wage growth can be shown in the increase in labour demand and by the increase of higher wages in the average wage. As by the research conducted from P. Richard, et al., (2005) Labour market does not seem to improve by the end of 2014, which is due to changes in unemployment are positively correlated with changes in owner occupation rate across, US and UK regions. Economic growth will likely go through indolent to be able to create enough jobs which would be essential when reducing unemployment rates.
In the essay "College Graduates Fare Well, Even through Recession," author Catherine Rampell provides data that detail why a college education is worth the investment. She shares with us a positive perspective on the employment prospects after graduating from a 4-year institution. Rampell states that "there are more employed college graduates today than employed high school graduates and high school dropouts put together" (pg. 678). This is seemingly good news
First, college degree graduates have better opportunities in finding a high wage job. “Graduates enjoy increased
The degree is seen as a free (to the employer) screening tool to filter through the applicants. The employer sees the degree as a representation of the individual’s ability to learn as well as a level of perseverance desired in employees. Considering the social and economic pressures in today’s world, all individuals with the ability to attend college and achieve a degree should do so in order to better prepare themselves for a competitive job market.
Moreover, employers featured in the survey claimed that academic results of a graduate is not an effective indicator of his or her competencies in the job when compared to work experience performance(Highfliers Research Ltd,2012). Another report also revealed that neither GPA nor major of study was related to the salary level of graduates at the entry-level of employment, but only work experience resulted in obvious disparity in salary level(Gault et al,2000).
Apart from the idea that college degree does not decide the path of life, the author asserts that it is still worth people’s time. According to the author’s data, most people who do not own a college degree perform worse in careers
This literature review will examine many different aspects of the term ‘over education in the graduate labour market’ and will look the different trends in the labour market, figures such as how many unemployed graduates and non graduates there are, and what type of graduates are progressing in. Also research about the different fields of graduates, likeliness of being recruited in that field, and the different wages and earnings/annum involved in the different sectors of the graduate labour market. Using the
In her article “Not all College Majors Are Created Equal”, Singletary states that engineering major with relevant internship within the innovation industry results in higher chances of attracting a good job. Unemployment is higher among high school dropouts compared to 22.9%, which represents the rate of unemployment among post-secondary graduates. Therefore, rates of employment among college degree holders are much higher than the chances a high school diploma can fill at workplace because of the differences in skills.
New graduates are facing tough competitions in the job market. First, some of the low skills jobs are being replaced with automation tasks. Second, many IT jobs are moved to lower cost countries. Many new college graduates continue to struggle to find a job. Although the national rate of unemployment is under 5 percent, the job market is saturated with highly educated grads with little to no work experience. Many baby boomers continue to work past their retirement age due to their financial difficulties. The limited job opportunities that are offered to new graduates are diminishing. Employers strategically hire prospects candidates at lower wages.
We can start with the union labor demand elasticity, when wages rise we know that employment has some declines. What we don’t know is how much has employment declined by and how responsive is employment going to changes in the rise of wage rate.
In the competitive world today, having a college degree might not benefit a student as much as before, thus opening up numerous questions concerning its necessity. Not only is the number of students desperately trying to enroll in college increasing, but the tuition shoots up as well. However, will college enrollment necessarily be enough to increase your chances of attaining job security? The answer is hotly debated amongst adults and students alike, which opens up the second option for students, that is, joining the work force. Although this option is generally shunned by the new generation, the tough economy and slow restoration makes it quite a desirable choice at the moment. Joining the work force is a hard decision to make as it
This increasing trend may have a substantial downside to business, within densely populated student areas. The more people attending university courses the need for skilled labour or lower skilled requirements will be in short supply.
At the same time students today face a higher chance of unemployment after graduation. This
In the last three decades there has been a rapid expansion of UK higher education increasing the supply of graduates in the labour market. Due to the increase in the number of graduates, they are now experiencing the incidence of over-education. Over-education in the graduate labour market refers to the situation where graduates are required a sub-degree level of qualification. As recent graduates are not equipped enough to succeed in the graduate labour market, they are forced to accept non-graduate jobs. This has resulted to UK higher education institutions with the pressure of graduate employability. Therefore, in order for graduates to succeed in the graduate labour market, they
There is a trend for graduates to work more in high skill jobs than for non-graduates. The combination of rising number of graduates in the population and decline in
Obtaining a job has become harder because of the slow restoration of the economy and competition. College students have come to struggle when hunting for any opportunities in the workforce. Pupils have also encountered difficulties when having the desire to work in a