Latest figures suggest fall in UK graduate unemployment

The Higher Education Careers Service Unit (Hecsu) analysed the destinations of 256,350 new graduates six months after they left university.

Some 7.3% were unemployed in January 2014, down from 8.5% in January 2013 and the lowest level since 2008.

Hecsu’s Charlie Ball said the figures are a “fascinating example” of how quickly the graduate jobs market can change.

The report says that although new graduates are likely to “bounce around or can’t find what they are after immediately”, the size of the survey makes it a “reliable snapshot” of how they are faring as a group.

The figures, published jointly with the Association of Graduate Careers Advisory Services, suggest 70% of new graduates were in employment by January 2014.

The figures also suggest more graduates were in professional and managerial work – 66.3% of new graduates, compared with 64.9% the previous year.

Fewer were working as retail, catering, waiting and bar staff – down to 13% of the total from 13.7% the previous year.

Mr Ball concluded “It is vital that students seek careers advice early and take work experience to better inform their decisions and prepare for employment”.