The level of unemployment among third-level graduates has dropped to its lowest level since modern records began, according to the latest report from the Higher Education Authority. The HEA said 1.5 per cent of graduates were "seeking employment" in June 2000, the lowest figure since 1983 when it started compiling the information.
Mr John Hayden, chief executive of the HEA, said the labour market was particularly favourable to young qualified people, but it was "almost a shock" to record unemployment among graduates at such a "negligible level".
As recently as the early 1990s there was 8 per cent unemployment among graduates. The finding is contained in the report, First Destination of Awards Recipients in Higher Education (1999). Almost 26,000 graduates were surveyed.
The report found that 45.7 per cent of graduates gained employment in Ireland one year after graduating. This was almost a 5 per cent drop on 1998, although it was explained by a rise in the number taking further study. Some 6.8 per cent got a job overseas, down from 8 per cent the year before.
The number doing further study or training rose to 41.7 per cent from 35 per cent. The HEA said that this statistic was included to provide new data for certificate and diploma students.
The level of unemployment varied, but was below 3 per cent in every faculty.
It was 2.5 per cent among arts/social science graduates, 1.6 per cent among science graduates, 1.3 per cent among commerce/business studies graduates, 1 per cent among medical/dentistry/pharmacy graduates, 1.6 per cent among engineers, less than 0.5 per cent among law graduates and 2.6 among agriculture graduates.
There were no architects or vets seeking employment.
About 88 per cent of all graduates earned more than £11,000 gross, the report says. Almost 16 per cent of them earned over £19,000 plus.
However, there were differences in pay levels. For example, just over 10 per cent of arts/ social science graduates earned £17,000 plus, compared to more than 50 per cent of science graduates. Almost 19 per cent of commerce/business studies graduates earned £17,000 plus, with over 30 per cent of medicine/dentistry/pharmacy graduates earning that sum.
When students took a postgraduate course, their earning power increased considerably. More than 32 per cent of arts/ social science graduates earned £17,000 plus after taking a higher degree, for example.
The report also shows the number of primary degrees being awarded rising to 15,773 from below 12,000 in 1995.