As I approach graduation — and therefore, the end of my undergraduate education — I am struck with a pang of fear. Like many other students approaching graduation, I am apprehensive about my future prospects and what I will do once I leave school.
A stable job is difficult to foresee. The CBC has labelled us “Generation Jobless.” In its documentary special, the CBC argues that while the current generation is highly educated, its future is hazy following graduation. Graduates face underemployment — in positions requiring less education than they possess — and unpaid internships — where the option of gaining experience is offered instead of wages for work. Students electing to continue their academic careers rather than enter the job market post-graduation also face a difficult path, given the fierce competition for academic postings. Those individuals with master’s and doctorate degrees are ill-prepared to find satisfying careers outside of academia, especially when a correlation can be found between degree of education and expected income.
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Without marketable work experience, job opportunities for young people are limited. Marketable experience can be very difficult to attain, especially if young people spend their early working years transitioning between part-time jobs. Although the answer to this massive problem is not clear-cut, a basic understanding of the principles of supply and demand help explain why it is happening. Simply put, the market is oversaturated with a surplus of university-educated arts and science graduates without enough of a demand for their services.
It does not seem all bad for graduating university students though — there are some bright spots. Technology industries, for instance, have not only traditionally looked to university-educated job applicants, but the industry is also growing and does not appear to be slowing down. However, according to the CBC, the tech industry is not as promising as it seems.
Technology industries, for instance, have not only traditionally looked to university-educated job applicants, but the industry is also growing and does not appear to be slowing down. As an example, large companies like Twitter, Linkedin, and Groupon employ fewer than 20,000 people combined. Although generally promising for the future given how young it is, the technology industry is not likely to help many of the roughly 15 per cent of young Canadians who are currently unemployed. Nevertheless, what young people are studying does matter when it comes to future employment. The manufacturing and mining industries are having a difficult time finding qualified applicants. The unemployment rate in these industries is low, and the level of compensation is on the rise.
So what we study matters, but this is not a new revelation. There are deeper problems. It has become a staple of modern society to prize a university education as being a necessary step in finding stable and fulfilling employment. Colleges that offer instruction on disciplines that are in high demand are seen in an inferior light to academics. In addition to societal expectations, the government has also played a role in the current employment situation. The Canadian government has not effectively created a link between schools, provincial governments, and employers. It cannot allocate human resources strategically on a nation wide basis because under federalism, education falls under the purview of individual provinces. Change in both these problems will take a long time and a strong societal will — something that many of us cannot wait for.
Frank Weng is a fourth-year student studying political science and history.
