2006:11 R

Economists degree programmes and the labour market

There are about 70,000 graduates in economics in the labour market and the range of sectors in which they work and tasks they perform are more diverse than for any other group of graduates. This is partly due to the way in which the breadth and character of the programmes facilitates student establishment in the labour market. At the same time there is a relatively large amount of unemployment, particularly among younger graduates.

The employers we spoke to seem to be satisfied on the whole with the contents of the programmes. All involved stress that their breadth is positive and they are eager to ensure that it is retained. Attitudes to placement periods in the programmes differ, with students wanting them and employers considering them unnecessary. Our impression from our discussions with both employers and the higher education institutions is that contacts between them are limited. This applies both to issues concerning the volume and contents of courses and also the direct participation of employers in the programmes. Today there are adequate supplies of experienced economists and ample numbers of new graduates. Short-term forecasts suggest that the situation in the labour market at the moment and in the next few years will brighten somewhat. In our discussions with employers we were also able to observe signs to suggest some improvement in the situation, but this starts from a dismal state of affairs.

Where longer perspectives are concerned, forecasts from Statistics Sweden indicate a major surplus of economists during the next 15-20 years. The assessment of professional associations vary but the general view is that the surplus of economists will persist even though demand is likely to increase.

Finally, note can be made of the dearth of alumni studies. One major survey is made each year in which the higher education institutions cooperate with a trade union, Civilekonomerna. This has many virtues but deals mainly with entry into the labour market, salary issues and the like. Questions about the structure and contents of the programmes are dealt with only briefly.

In a recent report the National Agency for Higher Education presented forecasts of the need and demand for graduates in about 30 occupational fields. These forecasts were to provide a basis for the planning of the higher education institutions. In a number of supplementary reports the National Agency has presented more detailed analyses of programmes and the labour market for specific professional areas. This report contains an analysis of this kind for economists. The analysis is based on discussions with employers, the higher education institutions, students and trade unions.