See above, in effect graduate unemployment is even worse than we expected end of last year 40%+. These do not show up in the stats! as there has been a flight back to education. In that grads who cannot get work decide to go back into education instead. Anybody on JSA knows that if you do more than 15 hours a week you are not unemployed and therefore you fall out of the unemployment stats.
It's subtle but; (unemployment amongst those in education) + (those who are unemployed and not in education) should remain stable but it isn't. So those who are unemployed
are staying and joining education which lowers the figures.
You can see the flight to education , much more than previous recessions due to the lack of jobs. Adding in the move to part time work the Government should be seeing very low takes for
tax compared to what they are spending on tax credits and benefits.
However will it work?, in that these grads who go on for extra schooling will still leave with no experience and unfortunately it may give them a huge sense of entitlement. For the record when I graduated I had a sense of entitlement in that I'd worked at the same time as my studies and I thought now is the time for my reward.
Unfortunately I was wrong and after noticing <50 well paid graduate schemes for the entire country with everybody else at NMW or even less than that remember I started my graduate career on £5500 (only a bit more than I used to get working at Mc'ds in 1996 @ £2.15 an hour. Which dashed my optimism markedly.
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