Graduate jobs and university worth £59bn to economy

The university sector is worth around £59 billion to the UK economy, according to one news provider which said around 700,000 UK jobs are created because of the higher educational system.

BBC reported on the comments from a team of researchers at Strathclyde University who said that universities have a substantial impact on the nation's economy and employment market, providing around 2.6 per cent of the country's workforce.

"It is increasingly recognised in the UK that the sector has become a core part of the economic infrastructure of the country and its regions, generating employment and output, attracting export earnings and contributing to gross domestic product," the report stated.

Other findings in the study included that as well as graduate jobs, universities provide employment for caters, retailers and other types of businesses.

Daniel Halls, co-founder at the Graduate Recruitment Bureau, said that recent university leavers need to research the area they want to work in thoroughly and dedicate time to searching out every relevant vacancy.