Tutorial
Is it still worth going to university?
- The unemployment gap between young graduates and the general youth population in the US has narrowed from a 6-percentage point difference in 2010 to approximately 1 percentage point today.
- In the European Union, the unemployment rate for young people with tertiary education is approaching the overall unemployment rate for that same age group.
- The EU saw a 16% decline in employment for 15-to-24-year-olds in finance and insurance sectors between 2009 and 2024.
- The number of British individuals in their 20s working in law and finance has fallen by 10% since 2016.
- The decline in graduate-friendly employment began prior to the emergence of generative AI, driven instead by the post-2009 financial crisis contraction in sectors like investment banking.
- Bachelor's program enrollment in the US dropped by 5% between 2013 and 2022, whereas total OECD enrollment (excluding the US) rose from 28 million to 31 million over the same decade.
- Student interest remains high in arts, humanities, and social sciences, including journalism, despite potential mismatches with current labor market demands.
- A 2023 study indicates that concern among US and British IT professionals regarding AI obsolescence of their daily skills jumped from 74% to 91% in a single year.
- Subjects such as robotics and practical trades (e.g., plumbing, carpentry) are identified as having higher resilience against automation, often accessible via apprenticeships rather than university degrees.
- OECD 2019 research emphasizes that unique human skills—specifically communication, critical thinking, empathy, and complex social interaction—are less susceptible to AI replacement.
- Students who completed internships before graduating in 2022 were 23% more likely to secure full-time employment within six months compared to those who did not.
- The likelihood of securing a full-time position within six months of graduation for internship completers rises to 65% in the oil, gas, and mining sectors.
- The consensus for future employability is prioritizing "learning to learn" and adaptability over specific subject matter mastery.