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The 'under-employment' crisis: Nearly half of recent graduates work jobs which don't require a degree

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Almost half of recent graduates are in jobs which do not need a higher education background, new figures have shown.

An expert said the level of under-employment revealed a “massive waste” of investment in skills.

The Office for National Statistics (ONS) said there had been an upward trend in the proportion of recent graduates working in non-graduate jobs – up from 37 per cent in 2001 to 47 per cent this year, with most of the increase happening since the 2008/09 recession.

The figures also revealed that almost nine out of 10 graduates were in work, compared to an employment rate of 83 per cent for those educated to A-level standard, 76 per cent for GCSE, 70 per cent for other qualifications and 47 per cent for those with no qualifications.

Annual earnings for graduates increase at a faster pace as they become older, before levelling out in their late 30s at a median level of £35,000 a year, well above those without a degree, the study found.

SOURCE: independent.co.uk

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