While new Australian university graduates are finding it more difficult than last year to find work, their long term prospects are looking strong.
In 2013, 71.3% of graduates found full-time employment within 4 months of finishing up their degree. In 2014 this figure dropped to 68.1%.
The GFC, the end of the mining boom, off-shoring, automation, the move towards casual work and globalisation leading to an influx of overseas workers has all contributed to the current situation.
“It is clear that the labour market for new graduates has yet to fully recover from the downturn experienced in late 2008 following the global financial crisis. It is perhaps not surprising that local recruiters are adopting a prudent ongoing hiring stance that sees new graduates taking longer than usual to find employment”, says Graduate Careers.
But, it looks like over the long-term conditions are improving. In May 2014, according to the Australian Bureau of Statistics, only 3.2% of Bachelor graduates were out of work in 2014, in comparison to 3.4% in 2013