New data has revealed that university graduates make up a
significant proportion of the workforce in key growth sectors
highlighted in the government's industrial strategy. The
analysis, which was conducted by Universities UK (UUK), shows the
impact of graduates in the workforce across key growth sectors
and the important role they play in driving national and regional
growth. In fact, the average proportion of graduates in the
workforce of the eight industrial strategy priority sectors is
64%.
- Creative Industries (75%)
- Digital and Technologies (72%)
- Professional and Business services (73%)
- Advance manufacturing (48%)
Alongside infrastructure and investment, high level skills are
key to driving productivity. Government research
shows that increased HE participation has played a pivotal
role in preventing a decline in productivity. The research
revealed that people with postgraduate and first degrees made up
22% of the UK workforce between 2001 and 2007, increasing to
almost 35% between 2014 and 2019.
Universities nationwide are actively working with major employers
in their regions to provide the workforce needed in key sectors
which in turn helps to boost regional and national growth. For
example, The University of Derby launched the Nuclear Skills
Academy with partners, Rolls Royce. The Academy aims to sustain
nuclear capability within the UK's submarines programme by
creating a dedicated pipeline of talent at the start of their
careers.
The University of Liverpool is another institution working to
provide high skilled graduates for the workforce through their
collaboration with leading UK-based sports nutrition company,
Protein Works. Through their employability partnership with the
company, they have ensured graduates have the skills and
experience required to thrive in the sector.
Students from the University of Plymouth are benefitting from the
partnership the institution has with Babcock, a leading provider
of engineering services across a broad range of key sectors
(marine, nuclear, land and aviation). Through an exclusive mentoring scheme
with Babcock, students have the opportunity to gain relevant
skills and experience from one-to-one mentoring sessions. The
company also recently launched a skills academy which
offers hands on training.
Despite there being a good spread of graduates in the workforce
across all regions, UUK's analysis highlights a stark gap between
London & the Southeast where the proportion of graduates in
the workforce is by far the highest, compared to the rest of the
UK.
With the government seeking to drive growth across all parts of
the UK, the data indicates that many regions could continue to
lag behind if action is not taken. The data shows that making up
the current gap in proportion of high-level skills between London
and the rest of the UK amounts to 4 million graduates.
In fact, government data shows that by 2035 the UK economy will
require a workforce where 61% hold a higher education
qualification compared to 52% in 2025 and 48% in 2020, further
emphasising why widening access to higher-level skills will be
key to supporting the workforce for the future should be a
priority for the government.
Vivienne Stern MBE, Chief executive of Universities UK
said:
“Our analysis shows just how important graduates are to economic
growth. Regions where graduates make up the majority of the
workforce report the highest levels of productivity while those
with lower proportions risk getting left behind.
“High growth sectors identified as priorities by government are
hungry for graduate talent. If we can't supply this, then
companies will be held back or may go elsewhere. We have to get
serious about making sure the country has the high-level skills
the economy needs to stay competitive. Those who say there are
too many graduates are plain wrong.
“With universities in every part of the country, from Cornwall to
the Highlands and Islands, a sustainably funded university sector
can continue to widen access to these higher-level skills and
support the workforce for our future economy.”
END
Notes to editors:
- Highlights from this analysis into graduate skills and
economic growth, along with a summary of previous UUK analysis
into the long term benefits gaining a degree, will be available
on the UUK website from 00.01 on Monday 10 March.
https://www.universitiesuk.ac.uk/what-we-do/policy-and-research/publications/how-graduate-skills-power-economic
