Peter Seddon, Senior Higher Education Policy Adviser at HEFCE, has recently posted a blog highlighting the value of a degree in the current economical climate. Read on to find out more.
Are there too many graduates in too many low-skilled jobs? A consensus of evidence suggests otherwise, but the ling view of graduate skills is a changing and hydra-headed challenge.
At HEFCE, we have been reviewing evidence on the contribution of higher education and research to productivity. One area where there is considerable consensus among economic experts is the valuable contribution that the expansion of graduates in the country makes.
This is reflected in the Government’s productivity plan, which sets the goal of enabling anyone with the right qualifications to study at university, and incorporating degrees into apprenticeships, which are also expanding.
In parallel, universities are currently finalising entry decisions on students for 2015-16. In this climate, we hear comments in the press, and among employers, about whether the UK produces too many graduates. Students (and their parents) now applying to university also worry about whether they will get a ‘good’ job at the end.
So how do we explain the mismatch between macro-economic views about the importance of increasing graduates to improve productivity and the public commentary?
Centrally this is about the long-standing challenge of forecasting skills needs in the economy. Universities need to develop graduates for long-term careers in an ever-changing world of work. […]
To find out what this evidence represents and what this means for the future, click here.