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STEM graduates to benefit from higher salaries and better job prospects

Published: Tuesday, 09 February 2016   Category: All Graduate Jobs News

The UK economy will be the subject of a science and technology boom over the next five years, a new report claims.

According to studies conducted by Staffordshire University in preparation for the opening of its £30m Science Centre, both science and technology fields are experiencing a notable growth, despite the general economic downturn. Both graduate career opportunities and an increase in job numbers are both apparent.

The research, which was carried out by the Centre for Business and Economic Research, suggests both science and technology industries will open up one in four new jobs in the UK between now and 2017. 

This is equal to 140,000 new STEM-related career openings – all of which will be achievable by 2016/17.

The science and technology industries are said to be two of the few high performers to come out of the economic recession. The quantity of individuals employed is now 1.5% higher than figures showcased in 2008.  

This increase is set to fluctuate even further, revealing a yearly STEM employment growth of 1.4%. 
However that compares favourably to growth of 0.4% for the economy as a whole.

Research suggests that by the year 2017, STEM related roles will make up 7.1% of jobs in the UK. STEM graduates can therefore expect to fall into their dream jobs if they're willing to gain the right qualifications. 

On top of this, this apparent increase in science and technology job openings will also benefit wage growth in the years to 2017. Salaries for science, technology and engineering careers will increase quicker than in the 2008-2011 period, by 1%, 0.6% and 1.1% respectively. 

Paul Richards, the Deputy Vice Chancellor of Staffordshire University, welcomed the report, adding it provides a “valuable contribution the continuing debate about the future shape of the UK economy and the role that the partnership between higher educational institutions and the science and technology sectors can play in generating a sustained economic recovery”.

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