The outcome of the survey conducted by the Norwegian Education Ministry revealed that the number of master's degree holders securing employment in Norway after graduation has drastically increased.
One out of every four recent graduates was unemployed or working part-time in 2020. In 2021, this percentage fell to one in every five new graduates. Despite this, the pandemic has affected the labor market. One out of every ten people claims to have multiple maladaptation situations, with many of them believing they are not utilizing their skills to their full potential.
Ola Borten Moe, Minister of Research and Higher
Education praised the accomplishments, stating that the labor market is
favorable for recent graduates while also emphasizing that her ministry must
prioritize education that is in demand for students and ensure that skills that
are needed in Norway are provided. She admits that the country lacks good
statistics and figures to illustrate what kind of competency Norway will require
in the future.
"Now we are in a period with a very good labor market, and the figures show that most people with a recent master’s degree get a relevant job after a short time. This is good news, but at the same time, we cannot rest on our laurels. Not since the financial crisis has there been a greater shortage of labor with the right skills," she stated.
Meanwhile, the latest numbers from the Office for National Statistics, reveal that more than a quarter of recent graduates believe that their degree level or field of expertise does not match their present job (ONS).
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