Independent research from Adzuna and a study by the National Institute of Labour Studies reveals a dire outlook for university graduates in 2016, with the number of full-time work opportunities dropping sharply.
In 2008, the report from the National Institute of Labour Studies showed 56.4 per cent of university graduates had secured full time work in the four months since completing their studies. In 2014, that number had plummeted to 41.7 per cent.
Based on the percentage change in the number of new graduates entering in the market between 2014-2015 from the National Institute Report, job search engine Adzuna estimates 181,388 graduates will enter the job market in 2016. With 5,016 full-time graduate jobs currently advertised on Adzuna, graduates are set to outstrip job vacancies by 3,616%.
CEO of Adzuna Australia, Raife Watson, said, “We know the Australian job market has seen a surge in part-time jobs over the past two years and a stark decline in full-time positions. This period of underemployment means new graduates will enter a very volatile job market with few opportunities to secure full-time work relevant to their field of study.
This is the time of year when high-school students complete their HSC and make very important decisions about their future. For those thinking about continuing their studies at university, consider studying the S.T.E.M degrees – science, technology, engineering and maths – because this where the jobs of the future will be. Secondly, university study is not for everyone so many will need to consider a pathway that could include vocational training or certificates III and IV at TAFE,”Mr Watson said.
Image: Graduate job seekers per graduate job vacancy by state
Western Australia, South Australia and Tasmania are the most difficult states for new graduates to find a full-time job with 72, 48 and 42 graduates vying for each role respectively. Graduates have the best chance of finding a full-time job in the Northern Territory, A.C.T and NSW.
| Healthcare | Finance | Education | Engineering | Sales | Information Technology |
| 1,301 | 450 | 320 | 265 | 230 | 178 |
Table: Graduate jobs data from adzuna.com.au – November 2016
More than 20% of current graduate vacancies advertised on Adzuna are in the healthcare industry. The most advertised positions include:
- Graduate Nurse
- Graduate Occupational Therapist
- Graduate Pharmacist
The finance sector came in second with 450 job vacancies. The most advertised positions include:
- Graduate Accountant
- Graduate Data Analyst
The education sector came in third with 320 job vacancies including:
- Graduate Secondary School Teacher
- Graduate Primary School Teacher
Engineering, Sales and IT also made the list of most sought after graduate jobs. The most sought after graduate positions in IT are for:
- Graduate web developers
- Graduate Software Engineers
| Year | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Starting Salary | 56.7 | 55.4 | 55.9 | 57.8 | 56.5 | 55.0 | 55.0 |
Table: 41250DS0002 Salary Indicators, Australia, August 2016
Information from the ABS shows starting salaries for new graduates has steadily declined over the past five years and remains unchanged from 2014-2015 at $55,000.
Adzuna CEO Raife Watson expects starting salaries to further decline for graduates in 2016. “This year the Australian job market experienced the lowest growth in wages over the past eighteen years. I expect the flow on effect for graduates will be lower than average starting salaries as companies look to cut costs in these tough economic times.”
