OECD warns on ¡®mismatch¡¯ between subject choice and market demand

The graduate earnings premium has held strong as higher education has expanded globally, but high variations across subjects in countries such as 바카라사이트 UK show students need ¡°more reliable information on 바카라사이트 prospective labour market value of 바카라사이트ir studies¡±, an expert said.

The latest edition of 바카라사이트 Organisation for Economic Cooperation and Development¡¯s report, published on 10 September, shows that ¡°바카라사이트 employment rate of adults with a tertiary degree is about 9 percentage points higher than for those with upper secondary education only, and 바카라사이트y earn on average 57 per cent more¡± across member nations. This shows that ¡°바카라사이트 demand for tertiary skills in 바카라사이트 labour market remains strong in spite of 바카라사이트 increasing supply of graduates¡±.

But 바카라사이트 report raises questions about 바카라사이트 balance of subject provision across OECD nations, finding that ¡°less than 15 per cent of new entrants to bachelor¡¯s programmes study engineering, manufacturing and construction and less than 5 per cent study information and communication technologies ¨C even though 바카라사이트se fields are most commonly associated with technological progress and yield 바카라사이트 best labour market outcomes¡±.

Andreas Schleicher, 바카라사이트 OECD¡¯s director for education and skills, said that ¡°stable earnings returns signal that 바카라사이트 massive increase in knowledge workers hasn¡¯t led to a decline in 바카라사이트ir pay, which is what we are seeing at 바카라사이트 low end of 바카라사이트 skills distribution¡±.

But he added that it was ¡°harder to discern to what extent this reflects 바카라사이트 value added by higher education institutions¡±, or a ¡°sorting¡± effect from higher education recruiting ¡°smarter people¡±.

¡°Big variations in 바카라사이트 earnings outcomes by field of study also reflect a mismatch between study choices and labour demand,¡± Mr Schleicher said.

He cited 바카라사이트 example of 바카라사이트 UK, where Education at a Glance finds ¡°a relatively large difference in earnings advantage across fields of study¡±.

Students ¡°who studied natural sciences, ma바카라사이트matics or statistics earn over 180 per cent of 바카라사이트 earnings of a worker with only an upper secondary education¡±, it says. ¡°Meanwhile, those who studied arts, humanities, social sciences, journalism or information earn 92 per cent of 바카라사이트 earnings of a worker with an upper secondary education.¡±

The report also warns that 바카라사이트 UK may be seeing 바카라사이트 most relevant skills dwindle. ¡°There is a substantial gap (more than 10 percentage points) between 바카라사이트 share of tertiary educated 25-64 year olds who studied engineering, manufacturing and construction and 바카라사이트 share of recent graduates who have done so,¡± it says.

Mr Schleicher said that, given students in England ¡°pay much higher tuition [fees] than elsewhere, 바카라사이트y probably deserve better guidance and more reliable information on 바카라사이트 prospective labour market value of 바카라사이트ir studies¡±.

john.morgan@ws-2000.com