Creativity and critical thinking craved as UK businesses need 11 million new graduates

Universities UK’s new report, Jobs of the future, reveals more than 11 million extra graduates will be needed to fill jobs in the UK by 2035, in addition to the 15.3 million graduates currently in the UK workforce.

88% of new jobs are projected to be at graduate level by 2035, meaning the many years of unbroken growth in demand for graduate skills is set to continue. STEM, health, education and business services are among the fastest-growing occupations for graduates, with each needing 1 million new workers by 2035.

UUK’s survey of FTSE350 senior figures and talent acquisition specialists also shows that, although some concern has been raised recently regarding the threat AI poses to certain careers, 51% of respondents say graduates with critical thinking skills will be more important to the workforce than ever should AI be used to automate more white-collar jobs.

Furthermore, 50% believe arts and humanities graduates will be crucial to helping businesses get the most out of AI tools, while 63% think businesses will need to work more closely with UK universities to develop a talent pipeline with their required skills.

Universities UK’s Chief Executive, Vivienne Stern MBE, said:

Published today, Jobs of the future found that more than a quarter of the UK workforce (26%) are underqualified for the position they hold. The workforce is experiencing a particular shortage of teachers, healthcare workers and STEM professionals.

Globally, technology-related roles are expected to boom over the next five years, in part due to the shift to renewable energy. Digitally-enabled jobs, such as specialists in e-commerce, digital transformation and digital marketing and strategy, are also expected to grow by 4 million positions globally by 2027.

Meanwhile, of the 100 senior figures and talent acquisition specialists at FTSE350 companies who participated in UUK’s survey, more than half (52%) said UK businesses will need to rely more heavily on UK university graduates to respond to skills gaps and workforce challenges of the future.

Alex Hall-Chen, Principal Policy Advisor for Sustainability, Skills, and Employment at the Institute for Directors, said:

The report also revealed that, on average, graduates have more career options, are more likely to find employment compared to non-graduates (86.7% compared to 70.2%), and earn more, with the median salary for a graduate £10,000 higher than non-graduates in England.

Vivienne added:

Download the Jobs of the future report and see top findings from the survey of FTSE350 leaders.

Notes to editors

For further information, please contact:

• Gemma Forrester / 07929 722 813 / [email protected]
• Laura McLean / 07427 233 743 / [email protected]

Key findings from UUK’s Jobs of the future report

• The UK will need over 1.9 million STEM professionals, including in areas such as computing and engineering, by 2035. Computer programming is the occupation that is expected to grow the most by 2035 in the UK.
• The UK will need over 1.2 million health and social care associate professionals, including opticians, medical technicians, housing officers and youth and community workers, by 2035.
• The UK will need 1 million teaching and educational professionals, such as university and higher education teachers, by 2035.
• In the UK, there will be a 10% increase in jobs that require a degree due to AI over the next 20 years.
• Globally, growth is forecast in approximately 4 million digitally-enabled roles, such as e-commerce specialists, digital transformation specialists, and digital marketing and strategy specialists – this is an area of relative strength for the UK.

The survey of 100 senior leaders (senior, c-suite, managing director/CEO) & talent acquisition specialists at FTSE 350 companies operating in the UK was conducted by Censuswide on behalf of Universities UK. Data was collected between 10th July 2023 – 14th July 2023.

About Universities UK

Universities UK is the collective voice of 142 universities in England, Scotland, Wales and Northern Ireland. Its mission is to create the conditions for UK universities to be the best in the world maximising their positive impact locally, nationally and globally. Universities UK acts on behalf of universities, represented by their heads of institution. www.universitiesuk.ac.uk