Graduates of Ontario university undergraduate programs not only have the highest rates of employment, but also have higher wages than competitors with any other level of education, a recent study suggests.
A study conducted November 2012–March 2013 by CCI Research Inc., for the Ontario Ministry of Training, Colleges and Universities surveyed the 70,085 students in Ontario who had successfully completed an undergraduate program in 2010, to which 36.1 per cent responded.
The survey concluded that more than 92 per cent of the students were employed, including 82 per cent in an area related to their field of study, according to figures released in a report by the Council of Ontario Universities (COU). The average annual income for full-time employees was $49,277.
COU president and CEO Bonnie Patterson said a university education raises an individual’s chances of employment in the current “knowledge-based economy” because it provides everything that employers are looking for.
“Employers very much value employees who have the broad knowledge and critical thinking skills that allow them to be creative and solve problems in new ways,” Patterson said.
Patterson said young people should not get discouraged despite those who are skeptical about employment prospects for recent graduates and the recovering economy.
“The most in-demand occupations today require a university degree and a university education equips young Canadians with the skills they need to adapt to the labour market needs,” she said.
Between July 2008 and July 2012, there were 700,000 new jobs created for university graduates in Canada, compared to 320,000 new jobs for college and trades graduates, according to Statistics Canada. It also reported a loss of 640,000 jobs for those lacking a post-secondary education.
“And Statistics Canada also tells us that many university graduates are using the entrepreneurial skills learned at university to create their own jobs,” Patterson said.
She said the findings of the report would be used to make students aware of these trends.
“We will use the findings of the report to encourage more young people to consider university as the path to a robust career, civic engagement, healthier living, and success,” Patterson said.
Minister of Training, Colleges and Universities Brad Duguid said the government continues to be committed to helping Ontario students fund their university education, as well as find employment.
“Between our many grant programs, including the 30 per cent-off tuition grant, and our Youth Jobs Strategy, young people in Ontario can feel confident that they will get the support they need to contribute to our 21st century economy,” Duguid said.
