Transition to work, mismatch and underemployment among graduates: an Australian longitudinal study

Jackson, Denise; Li, Ian

doi:10.1108/ijm-03-2021-0195

Cited by 13 publications

(7 citation statements)

References 66 publications

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“…In particular, the proportion of overqualified bachelor's degree graduates in economics far exceeds the proportions reported in earlier studies of bachelor's degree graduates in Australia by Li and Miller (2015) or Li et al . (2018), but is comparable to more recent Australian estimates (Jackson & Li, 2021). The proportions overqualified fell over the longer term at three years, but remained high at 23 per cent, 24 per cent and 16 per cent, respectively, for economics graduates and 17 per cent, 26 per cent and 0 per cent for accounting and finance graduates.…”

Section: Resultssupporting

confidence: 87%

Labour Market Outcomes of Graduates in Economics in Australia*

Williams

Clements

2023

J of App Econs and Policy

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The discipline of economics encompasses broad skillsets with diverse applications in employment markets and industries. Studies of labour market prospects for economics graduates are relatively dated particularly in the light of developments such as declining interest in economics in high school and university. This study examines the labour market outcomes of Australian economics graduates, at the bachelor and postgraduate levels, using a national dataset. We observe strong employment prospects for graduates in economics after graduation, in terms of full‐time employment and salaries. Obtaining a postgraduate qualification appears to pay off, with master's and PhD graduates experiencing more favourable employment outcomes than bachelor's graduates. Substantial proportions report being overqualified for their jobs although this proportion is comparable to those reported for the broader Australian graduate labour market. Reassuringly, those initially overqualified transition out and overqualification reduces in the longer term. Most economics graduates become economists, but many others enter a wide array of other occupations. Of those who start out in non‐economist professions, there is a 42 per cent chance that they transition to economist roles after 2.5 years. In summary, an economics degree leads to favourable employment and earnings and should still be considered an attractive choice for prospective students.

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Section: Resultssupporting

confidence: 87%

Labour Market Outcomes of Graduates in Economics in Australia*

Williams

Clements

2023

J of App Econs and Policy

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“…Further, their remuneration appears rather attractive, especially at the relatively early stages of their careers. There were a number of graduates who reported being overqualified in their occupations, although the incidence of overqualification found here was lower than that found by Jackson and Li (2022) for bachelor's degree graduates in Australia. Reassuringly, the occupations of economist and university lecturer, where the majority of graduates are employed, were found not to be statistically associated with overqualification.…”

Section: Concluding Commentscontrasting

confidence: 87%

“…Around 23 per cent of economics PhD graduates and 14 per cent of finance PhD graduates were found to be overqualified earlier. These proportions are lower than the 40 per cent incidence of overqualification found for Australian bachelor's degree graduates by Jackson and Li (2022) but this finding is nevertheless rather substantial. Therefore, it is of interest to examine the PhD graduates' characteristics that are associated with these two employment outcomes.…”

Section: Who Is Overqualified Andmentioning

confidence: 56%

“…This scale consisted of eight Likert items ranging from strongly disagree = 1 to strongly agree = 5, with a neutral category of neither disagree or agree = 3. Graduates who have a mean score of 3.5 or above across the eight items are classed as overqualified, as per the approach of the Social Research Centre who conducted the GOS (QILT, 2021), and other published studies of overqualification using the GOS study (Jackson and Li, 2022).…”

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confidence: 99%

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The Market for Economics and Finance PhDs

Lan¹,

Li²,

Chai³

et al. 2023

Australian Economic Review

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This paper presents new information about the post-graduation activities of those with a PhD in economics and finance from an Australian university. Approximately 40 per cent have an academic job, while the other 60 per cent work elsewhere or engage in other activities. The analysis includes origin-destination networks for both the academic and non-academic markets, the determinants of earnings and measures of overqualification and underemployment. The findings of the paper can provide guidance for those completing or contemplating PhD studies.

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“…Tracing the underutilization of young workers is complicated because of various measures across economies. Jackson and Li (2022) explored the transition into a graduate-level career and examined how determining factors change over time. They considered time-based (number of hours worked) and skill-based (overqualification for a job) underemployment among 41,671 graduates of Australian universities.…”

Section: Skill Mismatch and Underemployment Among Graduatesmentioning

confidence: 99%

Determinants of school to work transition and COVID-19

Choudhry

2022

IJM

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PurposeThis is Part 1 of the two special issues on the topic, “School to work transition around the world – the effect of the pandemic recession.” The first part focuses on the determinants of the school-to-work transition (STWT) and the implications of the COVID-19 pandemic on the young worker and their response to uncertain labor market conditions. The second issue will explore the country-specific experiences around the globe in tackling the problem of a smooth STWT. The purpose of this introductory article is to elaborate on the transition of young workers in the labor market. Discussion on the status of various indicators of the youth labor market (unemployment, underemployment and not in employment, education and training [NEET]) is also integrated. The determining factors of school-to-work transition (STWT) and the role of technical and vocational institutions and universities are analyzed. Moreover, the impact of COVID-19 on the labor market is also evaluated. After the pandemic, there was a dreadful change in the job market; this study dives into those diverse factors and carves out the multiple impacts on youth unemployment.Design/methodology/approachThe study analyses relevant literature on STWT, NEET and COVID-19 implications for the labor market, based on the other papers in this special issue. Using the review method, the authors identified similar research articles and reports which helped in strengthening the study’s argument. The primary focus of the study was on the smooth transition of young workers in the labor market and the impact of the pandemic on youth unemployment. Hence, literature supported the authors in giving the justifications from various economies and societies.FindingsThe paper finds that youth worldwide have suffered from the repercussions of COVID-19, especially in their early career (STWT). Skill mismatch, underemployment, job losses, salary cut downs, health issues, vocational education importance, vulnerable employment, etc. were some of the significant impacts the authors identified by analyzing the various reports and papers. Furthermore, this paper also discusses the role of active labor market policies and hiring incentives for promoting youth employment.Social implicationsThe paper finds that the times ahead are challenging ones. There is a dearth of productive job opportunities due to slow economic growth. The unemployment rate among youth and adults is high, and labor markets have become more competitive. The young generation is now left with no choice but to upgrade and improve their skill set or some other expertise. On the one hand, technical and vocational education and training (TVET) and universities need to enhance their marketable knowledge and skills, and on the other hand, there is a need for active labor market policies to encourage their participation in the labor markets.Originality/valueThis paper strongly contributes to highlighting the professional and societal hit backs faced due to the aftermath of COVID-19. The study summarizes the specific details of STWT and employment issues faced by youth in various parts of the world.

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Transition to work, mismatch and underemployment among graduates: an Australian longitudinal study

Cited by 13 publications

References 66 publications

Labour Market Outcomes of Graduates in Economics in Australia*

Labour Market Outcomes of Graduates in Economics in Australia*

The Market for Economics and Finance PhDs

Determinants of school to work transition and COVID-19

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