A record number of graduates are planning to leave the UK, driven not by wanderlust but by frustration. A new graduate recruitment survey finds that 10 per cent of this year’s university leavers are actively considering emigration as they confront what recruiters describe as the worst graduate jobs market in three decades. Only 27 per cent have secured employment so far this year. Four years ago, there were around 180,000 graduate vacancies posted on the Reed recruitment website. Last year, there were just 50,000. Meanwhile, applications have doubled. For many young people, the maths is becoming impossible to ignore.
Australia remains the runaway favourite destination. Higher starting salaries, a less congested housing market and a straightforward skilled migration system have long attracted British graduates – not to mention the lifestyle. Canada is popular too, particularly for those in technology, healthcare and engineering. Germany is attracting graduates with STEM qualifications, while Singapore and Dubai have become magnets for finance, consulting and digital industries. Recruiters report growing interest across all these destinations .
There is another queue forming too – for postgraduate courses. Thousands of graduates are opting for a master’s degree in the hope of distinguishing themselves from an increasingly crowded employment field. Some courses undoubtedly provide valuable specialist skills. Others are becoming an educational shelter from a labour market with little room for inexperienced entrants. It is an expensive gamble. The danger is that Britain is creating an escalating credentials race: students accumulate debt, while employers simply raise the qualification bar. Meanwhile, one in five graduates now reports applying for more than 100 jobs.
