Comment Missing information... (Score 2) 393
... an increasing number of university graduates are overqualified for their jobs.... 40 per cent of university graduates aged 25-34 were overqualified for their job.... The problem is bigger than that, because those young workers spent money, time, and resources to get those qualifications.
It could be a problem, but we're missing some information. This is looking at people aged 25-34. A lot of them are taking crappy entry-level jobs. A lot of them don't have any significant work experience, and have trouble breaking into their preferred fields. A lot of them have student loans and other financial obligations, and just need to take a job - any job - to keep food on the table and a roof overhead. (That, in itself, is another kettle of problems that I'm not going to go into right now.)
An important question is, then, how many of them are still overqualified by the time they're into the 35-44 age bracket? Was the extra education actually "wasted", or did they eventually come out ahead because they didn't have to drop out of the workforce later on to go back to school to get the education they missed in their twenties? Did their extra "unnecessary" knowledge help them move up the ladder faster than they would have without it? (I'm not looking for anecdotes - of which I am sure there exist examples to suit any preferred narrative - but rather real data.)
And that leaves aside the rather more philosophical question of whether or not it's generally a Good Thing to have more university-educated individuals in it, even if they don't need those degrees specifically as job training. Are universities now only vocational schools, and only of value to society in that context? If I can't cash in my degree for a high-paying job, is it worthless?