Cyprus has the 4th lowest employment rate of recent graduates in the EU, according to a report by the European Commission. In the UK, recent graduates have an employment rate of 86.6%. Greece currently has the lowest employment rate of recent graduates in Europe, at 52.0% and Malta currently has the highest employment rate of recent graduates in Europe, at 94.5%.
In 2014, the EU average employment rate was 76.0%; in 2017, it rose to 80.2%.
The 2018 edition of the report, Education and Training Monitor by the European Commission, shows Member States have made progress in meeting targets, such as the want to “reach the employment rate of recent graduates to 82%” by 2020. However, there is still work to do.
Education and training specialists, www.theknowledgeacademy.com delved into the data to find out the current employment rate of recent graduates* across Europe, to compare which country currently houses the most – and least – successful grads**.
The Knowledge Academy found Malta currently has the highest employment rate of recent graduates in Europe – at 94.5%. Followed by Germany (90.9%) and the Netherlands (90.4%.)
Slightly behind these three countries, but with impressive rates still, is the Czech Republic (89.9%), Austria (89.4%), Luxembourg (88.5%) and Sweden with 88.3%.
In the UK, recent graduates have an employment rate of 86.6% – over 4% higher than the European average Member States are striving for.
Additionally, new findings published by the Department for Education show earnings in 2016/17 for British graduates one and three years after completing a degree have increased to £19,900 one year after graduating, and £23,300 three years after graduating. Avowing the financial benefits, a degree can bring students.
Thereafter, the employment rate of recent graduates across Europe begins to decline ever slightly. In Latvia, we reach a rate of 78.0%, while Bulgaria (77.7%), Finland (77.0%) and Romania (76.0%) follow.
Alternately, the three countries with the lowest employment rate of recent graduates are, Croatia (65.9%), Italy (55.2%) and Greece – with an employment rate of just 52.0%.
Joseph Scott, a spokesperson for theknowledgeacademy.com comments: “We’re not worlds away from achieving the average employment rate Member States are striving for. Almost half the countries included in our table meet the grade; whilst a few even exceed it. It is therefore encouraging for countries with lower rates, such as Greece, Italy and Croatia, who will hopefully utilise the comparable data to improve circumstances for their graduates. Afterall, investing in education across Europe will benefit us all. If we produce graduates who can make a success of their life, we can create a sustainable workforce of confident and competitive grads ready to overcome anything.”
Currently, the EU is working with Member States to make education a success for all young people.
*Please note the indicator ‘employment rate of recent graduates’ presented in the data concerns recent graduates (those who have graduated within the last one to three years) meeting two criteria, namely: 1. Being in employment, and; 2. Not in any further (formal or non-formal) education or training.
**Figures based on graduates aged 20-34.