Financial services provider PPS has revealed that 39% of students are concerned that they may not be employed immediately after their tertiary education.
PPS released its 2018 Student Confidence Index (SCI), which revealed that 36% of professionals thought the government should draft conducive policies for businesses to thrive and create job opportunities.
Additionally, 30% of respondents believed that their professional associations were also looking for solutions.
With persisting concerns of unemployment amongst graduates and employed professionals, PPS says much more needs to be done to stimulate employment and allay fears of job security.
Last month Statistics South Africa released its Quarterly Labour Force Survey results, showing an unemployment rate of 31.0% during this period compared with 19.5% in quarter four of 2018.
“PPS believe that youth graduates are important for their critical role in the working environment and for shaping SA’s future. We know that President Cyril Ramaphosa is concerned about the high rate of youth unemployment in the country and we welcome his call for businesses to create training and entry level job opportunities for young people to acquire practical workplace experiences,” says PPS technical marketing head Motshabi Nomvethe.
The PPS SCI also revealed that securing a degree has lowered to under 30% for the first time in the four years that the survey has been conducted, with 27% of students wanting to continue with their postgraduate studies while 40% indicated they preferred employment.
A staggering 84% of the respondents have indicated the cost of furthering tertiary studies is prohibitive.
“This differs from previous years and could be the result of the tougher economy where the general sentiment among students is to enter the workforce – and earn a living - sooner,” Nomvethe adds.
The index shows that 68% of professional respondents felt confident about the future of their profession in the next five years. The factors that positively influence this confidence were financial viability, regulations as well as political and economic conditions.
However, 42% of respondents said skilled professionals cannot find appropriate jobs and are moving overseas, with engineers in the majority at 51%.