Get the kettle on

It is a longstanding stereotype of the British national character that its people are wilfully restrained by a good-natured apathy; shrugging shoulders, cynical smirks, and the iconic remedial cup of tea all suggest an attitude of "why bother?" This fond stereotype becomes a dreary reality during times of economic difficulty, embracing the dignified boredom of highly capable beings rendered powerless by their circumstances. The unemployment figures reported on this edition of the Journal appear to suggest that this condition is in danger of becoming permanent in the current generation of graduates.

As university applications hit record highs and class of 2010 applies for jobs, an endless supply of qualified graduates only promises to overflow a saturated job market. As even unpaid positions are furiously fought over, and paid work experience comes in the form of waiting tables, the situation looks likely to become far graver than a matter of national boredom.

With banks only too happy to lend out money to experience-starved graduates keen to work for a pittance, and companies delighted to take on free labour, the flawed system only feeds itself. Not only will there be an exploited graduate workforce, but also an entire generation heavily in debt. With patchy CVs and limited industry skills, the means to escape this vicious cycle will be slim for today's graduates.

It is increasingly difficult to extricate cause from effect. The explosion in unversity applications—up 73 percent at Edinburgh Napier—will not only put pressure on university deparments in the short term, and result in a large number of disappointed applicants, many of them ably qualified. It will also fuel the competition for decent graduate jobs, forcing many jobseekers to return to university to tide them over until work becomes available.

Industry will also suffer in the long-run. By implementing recruitment freezes particularly at entry-level, and taking on interns instead, industries will lose out on a vast field of talent, as only those who are financially fortunate enough to accept unpaid positions will be able to apply. Additionally, short-term internships will not be enough to provide graduates with all the essential skills and knowledge of the industry. Industries will ultimately suffer from a vacuum of skilled, entry-level workers.

Some might blame the uselessness of generic university degrees when apprenticeships and vocational courses teach specific, marketable skills. Indeed, the government's 50 percent university target is deemed ridiculous by many employers, as it will result in an overqualified workforce.

The problems are undoubtedly multi-faceted; nevertheless, there is one certainty: the government's fiscal stimulus measures will be of little avail if they neglect this issue of unemployment. A bored, dependent and indebted population inevitably makes for economic woes on a much bigger scale.

For now, pint-pulling history graduates and coffee-fetching interns might be satisfied with trundling along apathetically, in the hope that things might eventually fall into place. But unless the government prioritise job creation and policies to encourage vocational training, there is little reason to hope for any better.