Ontario university graduates have experienced the highest employment growth of any educational attainment group over the last 10 years, they are earning significantly more, and they are more likely to be working at a job related to their studies, empirical data shows.
Employment Rates & Earnings
The future looks bright for university graduates and for all of Ontario in the economic outlook for 2015 and beyond. Empirical data collected for a COU report, University Works, shows that a university education leads to higher employment and earnings than for any other educational group.
In fact, university graduates experienced the highest employment growth of any educational attainment group over the last decade. Employment growth for recent graduates from bachelor degree programs was 42 per cent, in comparison to 15 per cent among young college graduates, over the last ten years.
As Ontario heads into a period of economic recovery and growth, the outlook of both employment and earnings of university graduates is improving. The unemployment rate for university graduates in February 2015 was 4.2 per cent – the lowest among the population.
The average graduate of Ontario universities aged 25 to 64 earns an employment income of $75,396, 58 per cent more than the average graduate from Ontario colleges and 94 per cent more than the average high school graduate. Over a 40-year period, a university graduate earns an average $1.1 million – or 58 per cent – more than graduates from other Ontario postsecondary programs and $1.5 million more than the average Canadian high school graduate.
We can expect that economic growth in Ontario will create jobs and improve the employment and earning prospects of university graduates. A university education remains a highly resilient investment.