Graduate Careers Australia’s updated, annual review reports of the new graduate labour market in Australia indicate long term employment prospects for skilled workers are on the rise and becoming favourable once more.
“Our research shows that unemployment is not a long-term concern for graduates and it’s important to understand that getting a degree is not just about the first job after university: it’s about a life-time of advantage in the labour market as well as the potential for huge personal growth”, points out Graduate Careers Australia, Policy and Strategy Adviser, Bruce Guthrie.
Over-all, in 2014, 68.1% of freshly minted bachelor degree graduates who were entering the labour market looking for, or engaged in full-time employment found work within 4 months of graduating.
Another 20.3% were working part-time or casually, while still looking for full-time work.
11.6% weren’t working while seeking full-time employment.
Graduate employment is predicted to grow by 13.1% over the 5 years to November, 2019 in comparison with expected growth in overall employment of 10.0%.
Graduates who undertook work experience while studying, or before, stood a better chance in the labour market. The report recommends students currently studying look for work experience and engage in career planning before they finish their studies.
Over the last year (at the time of the survey) most graduates in full-time work were employed in the private sector.
In 2014, 66.6% of male graduates found work in the private sector, up from 53.5% in 2003.
Meanwhile 44.5% of female graduates in 2014 found work in the private sector, up from 36.9% in 2003.
Northern Territory graduates had an 81.6% chance of finding full-time employment compared to other states.