Photo credit: Wayne National Forest
While the UK’s financial sector was allowed to grow, manufacturing industries were left to decline. The result: an hour-glass-shaped labour market; high-paid graduate jobs on one end and a growing number of precarious, low-paid jobs at the other. We need an economic and industrial strategy that delivers reasonably secure, decently paid, satisfying jobs across the UK in a more equal and low-carbon economy.
- Non-graduates make up more than one half of the workforce and are more than twice as likely to be unemployed as graduates.
- The majority of the non-graduate workforce is employed in ten ‘super sectors’ of which retail is by far the biggest employer.
- Wages for those with the same level of qualification vary hugely by sector. The lowest paid workers in transport manufacturing make around £18,000 a year, while their equivalents in hospitality earn under £10,000.
Publication // February 24, 2012
Non-graduates make up more than one half of the workforce and are more than twice as likely to be unemployed as graduates. However, the problem is not only the quantity, but also the quality of jobs available to them.
In the past three decades the UK has witnessed a growth in the proportion of precarious low-paid jobs on the one hand and high-paid graduate jobs on the other. The result has been growing in-work poverty and economic inequality.More