Graduates continue to receive an employment advantage from their university education despite facing a COVID-19 recession and a weakening labour market.
The latest Government survey on short-term graduate outcomes confirms that while university graduates face a tough jobs market, almost seven in 10 found a full-time job four short months after graduating. This increases to around four in five for job seekers with a postgraduate qualification.
Universities Australia's Chief Executive Catriona Jackson said a university education remains an important insurance during economic downturns.
"A university degree continues to be a safeguard for graduates - even in hard economic times," Ms Jackson said.
"There is no doubt the labour market is a challenge following a pandemic - especially for young people - but the data continues to show it's better to have a university qualification than not."
"This four-month job outlook does shift quickly with 90 per cent of graduates in full-time employment three years on from finishing their studies."
"Employment rates in the short-term also differ by field of study, but after three years, graduates with generalist degrees have largely closed the gap."
The 2020 Graduate Outcomes Survey also found undergraduates' satisfaction with their studies has increased to 80.7 per cent.
"This high-level of satisfaction is consistent, and the slight increase amid the turmoil of COVID-19, is a tribute to our adaptable and resilient staff and students," Ms Jackson said.
Almost 70 per cent of undergraduates employed full-time were also working in managerial or professional occupations immediately after graduation.
