With over 45% of young welsh graduates working in the public sector compared to 15% in London, the cuts to public sector jobs has had a much greater affect, causing graduates to look to London and the South East in the fight against graduate unemployment.
The Work Foundation, ‘the leading independent authority on work and its future’, has found that graduate unemployment is currently at 20% and likely to get worse. With the result being graduates relocating from areas that rely on public sector jobs.
5% of the UK’s graduates live in Wales, Northern Ireland and the North East compared to over 20% in London and a further 10% in the South East. However due to the high number of these graduates working in the public sector, the government cuts are likely to have more of an impact on welsh graduates.
The fear for Jonathan Wright, author of the report, is that a mass exodus of graduates looking for recruitment opportunities in England will cause a ‘brain drain’ on major cities like Cardiff, Swansea and Newport, which would undo the progress of an increasing number of graduates in Wales since 2001.
An Assembly Government spokesman said “we are focussed on securing the economic recovery of Wales and creating employment throughout the nation, despite the tough financial settlement imposed by Westminster.”