Graduate Employment in the UK: An Application of the Gottschalk-Hansen Model
AbstractThere is an apparent inconsistency in the existing literature on graduate employment in the UK. While analyses of rates of return to graduates or graduate markups show high returns, suggesting that demand has kept up with a rapidly rising supply of graduates, the literature on over-education suggests that many graduates are unable to find employment in graduate jobs and the proportion over-educated has risen over time. Using a simple supply and demand model applied to UK data that defines graduate jobs in terms of the proportion of graduates and/or the graduate earnings markup within occupations, we find that the employment of graduates in non-graduate jobs has declined over time. Hence, there is no evidence of an over-production of graduates in the UK.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3618.
Length: 39 pages
Date of creation: Jul 2008
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Find related papers by JEL classification:
- I2 - Health, Education, and Welfare - - Education
- J0 - Labor and Demographic Economics - - General
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-06 (All new papers)
- NEP-EDU-2008-08-06 (Education)
- NEP-EEC-2008-08-06 (European Economics)
- NEP-LAB-2008-08-06 (Labour Economics)
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