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Masters degree better for graduates in recession, research suggests
Wednesday, 27 January 2010
All Graduate job news
Graduates with masters degrees cope better than those entering the job market with only their first degree, research suggests.
According to analysis of figures from the Higher Education Careers Services Unit (Hescu), the unemployment rate for students who graduated with a masters in 2008 stood at 4.1 per cent, up from 3.7 per cent in the previous year.
And in comparison, unemployment among graduates with a first degree in 2008 was 7.9 per cent, a 2.4 percentage point increase on 2007, according to Hescu figures from last year.
The report entitled What Do Masters Graduates Do? warns graduates that despite the clear benefit of a masters degree for graduate job hunters, there are challenging times ahead.
An extract from the report says: "Compared to the increase in unemployment for first degree graduates over the same time period, this cohort seem to have been less affected.
"As a result, it is likely the full effects of the economic downturn will be more apparent for masters graduates from 2008-09 and 2009-10."
The Young Person's Guarantee will provide up to 470,000 employment and training opportunities over the next 15 months to help deal with the situation that means 100,000 18 to 24-year-olds are immediately eligible for the scheme.