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Graduates with Economics background quickly get jobs after graduation as unemployment in Sweden starts falling

Thursday, 15 March 2012
Nine out of ten graduates with economics and business background in Sweden today have jobs within the first six months. Many even also have it before graduation according to a recent study but this has come at a time when in the past three years economic and business study have been seriously discouraged in Sweden

Many gradate with background in economics and business related studies in Sweden in the past three years where unemployed and found it hard to get a job. Most career forecast did include economics and business as areas where student to develop careers in. Now it turns out that along with medical school, business studies provide the highest living wage in Sweden according to a new report from the worker’s union Civilekonomerna.

Therefore the questions being asked are whether forecasters are wrong or are if this is as result of a low turnout in the field after years of scare mongering and increase emigration of graduates in economics and business background.

The survey by Civilekonomerna was based on responses from 1600 economists who graduated in 2008 in various Swedish schools. Three years later, about 95 percent of the economists work, or nine out of ten are already on a steady job. Just over 2 per cent were seeking work.

The fastest are those niched towards computing / IT, finance or economic analysis. Recent increases in the number of economics students have obviously not shrunk economists' chances in the labour market.

“Despite all the gloomy forecasts of a surplus of economists, the newly graduated civil economists very quickly get job and they get jobs with good wages,” says Sara Lindberg, an investigator at Civilekonomerna.

Three years after graduation, the median earnings of the graduate fell between Skr30 000 and Skr35 000 a month. Best paid are about the 7 percent who work abroad, where more than half have earn more than Skr45 000 a month. Also well paid are analysts and specialists, But among administrators, assistants, teachers and researchers, more than eight out of benefit from a salary below Skr 30 000.

Manager, analysts and specialists are more common job descriptions among men, while assistant and administrator is dominated by women. Overall, however, 20 percent failed to reach a management position and this is broken down in 25 percent of men and 15 percent of women. 
“The difference has existed for ten years, when we started making these measurements,” says Sara Lindberg.
According to her, a reason that men choose sectors with more rapid growth is that more of them are working in the private sector and abroad.

Almost half of those that graduated in 2008 now work in Swedish-owned companies and 28 percent for a foreign. Some 20 percent work in the public sector, and most when a government agency. 2 percent have found jobs within an international organization or government.
On the whole, unemployment in Sweden was 7.8 percent in February, down from 8.0 percent in January, not seasonally adjusted, according to statistic Sweden (SCB) in its Labour Force Survey (LFS).

Analysts had forecast an unemployment rate of 7.9 percent. The seasonally adjusted unemployment stood at 7.5 percent in February 2011, down from the unrevised 7.6 percent the previous month.
By Team

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