News National Graduate market at its worst in 20 years

Graduate market at its worst in 20 years

Twitter Facebook Reddit Pinterest Email

An annual survey of university graduates has found the smallest portion of graduates working in full-time jobs in two decades.

Only 71 per cent of bachelor graduates found a full-time job within four months, with the highest portion of unemployed graduates since 1994, according to a Sky News report.

• Unemployment rate rises to six per cent, despite new jobs

The GradStats survey of 100,000 graduates, conducted by Graduate Careers Australia, reported a deterioration in employment prospects for graduates, with 76 per cent securing full time employment in 2012.

These figures are the worst for graduates since the 1992-1993 recession.

Of those looking for full-time work, only seven in 10 graduates managed to find it.

According to the study, more graduates are also working in part-time and casual jobs and not looking for full-time work than any time since 2004.

Graduate Careers Australia executive director Noel Edge said that long-term prospects for graduates were still strong, with unemployment rates for graduates at 3.4 per cent – half the rate of those with no higher education.

In positive news, the survey reports that graduate salaries increased marginally from an average of $52,000 in 2012, to $52,500 in 2013.

Dentistry graduates remain the highest paid, with an average salary of $80,000 per year.