Is University education preparing graduates for unemployment?
For many youngsters, going to university is an increasingly effective way to prepare them for unemployment.
University courses, provide an education that suits neither students nor their employers. Significant mismatch between course and jobs is a key reason for our outrageously high levels of youth unemployment.
A report by world respected McKinsey Consultants, survey showed that University graduates are ill prepared for work once they graduate; the main problem is University and work are very different. In the USA, half of all graduates say they would pick a subject which has better employment prospects if they had to do it all over again.
Astonishing, statistics show that 15 percent of US taxi drivers have university degrees. Even worse, almost 50% of university graduates are employed in jobs that don’t even require a degree. Similar trends to the US are found in the UK, France, Germany, Italy, Spain and Portugal and other industrialised worlds.
According to the Bureau of Labor Statistics only 27 percent of jobs in the U.S. require at least an undergraduate degree and the number of these competing for these jobs are much higher – thus leading to the number of unemployed college graduates likely to grow over the next decade.
Is it that our nations are too hooked on degrees and maybe, should more effort be poured into apprenticeship programs, given that we have a situation where there are too many graduates chasing too few graduate jobs.
Whatever the answer, it seems the situation is unlikely to improve in coming years.