Over-Education in the Graduate Labor Market

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Over-Education, Graduate Labor Market

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Abstract

This paper discusses the issue of over-education in reference to the labor market in UK. In addition, enough evidence have been provided to show the impacts of graduates' over-education and how they are treated in the labor market in relation to the returns they receive and the expected return. There are numerous factors that seem to dictate how individuals fit in the labor market that revolve around the country of origin, gender and also level of schooling. It is evident that the native-born who are non-whites and immigrants will likely be over-educated as compared to the natives.UK has generally been a theatre of significant shift in graduate production.

Any doubts have been raised on whether the demand for graduates corresponds to the supply. Most graduates get jobs in sub graduate jobs sectors regardless of the factor that they are over educated. There are so numerous questions that come up due to the fact that university graduates find themselves taking jobs that are at the same level as those of the school leavers. People are in the dilemma of whether university education is a viable investment. Lastly, this paper will recommend a few things that the policy makers should put in place to try to curb the negative impacts of over-education.

Introduction
Analysis of the UK Graduate Market in General
Over Education and Its Incidence in the UK Graduate Labor Market
The Impact Of Over Education on the Job Satisfaction of Graduates Who Are In That Position
Over Education Is a Short Ten Phenomenon
Conclusions/ recommendations

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[...] (2007). Overeducation in the graduate labour market: A quantile regression approach. Economics of Education Review 521-531. Prais, S. J. (2001). Developments in education and vocational training in Britain: Background note on recent research. National Institute Economic Review 73-74. Walker, I., & Zhu, Y. (2003). Education, Earnings and Productivity: Recent UK Evidence. Education, Earnings and Productivity: Recent UK Evidence. [...]

[...] White/ethnic minority earnings and employment differentials in Britain: evidence from the LFS. University College of Swansea, Department of Economics. Borghans, L., & Grip, A. D. (2000). The overeducated worker?: the economics of skill utilization. Cheltenham, UK, E. Elgar. BüChel, F., & Mertens, A. (2004). Overeducation, undereducation, and the theory of career mobility. Applied Economics 803-816. Dolton, P., & Vignoles, A. [...]

[...] Alternatively the employers may recruit graduates to work for them in jobs that have basically remained the same but do not call for graduate skills. The over educated workers spend seven percent less that of matched graduates (Mason, 2000). Implications Of Over Education for Universities and Government Policy Makers Policy makers should be concerned with education particularly at this time when UK is experiencing rising shortage of highly skilled labor. First, if a university graduate gets a job that they could have performed without the degree, it portrays a significant waste of tax payers' money (Buchel & Mertens, 2004). [...]

[...] It is crystal clear that ethnic differentials linked to over- education can be observed without associating it with the labor market discrimination. For instance, there may be various variances in the education quality in terms of grades, institutions and subjects attended. The UK minority group more likely under performs when it comes to achieving five or more GCSE A-C (Battu & Sloane, 2004). The minority ethnic groups are less likely as compared to the whites to get first of second upper- class honors with the African, Black Caribbean having lower performance than the whites (McGovern, 2012). [...]

[...] If this fixed penetration scenario is realized, it is expected that over-education will lead to increased problems since the labor market will not be in a position to absorb the continuing growth of University graduates (Mason, 2000). UK has an ethnically diverse population of graduate immigrants (Blackaby et. al, 2000). Way before the Second World War, more than half of the immigrants to Britain hailed from countries of the Old Commonwealth such as Australia, Canada and New Zealand. Evidence shows that the UK immigrants on average perform far way much better that the natives in the labor market (McGovern, 2012). This is seen in terms of earning and also possible higher employment. [...]

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