Ontario university graduates have the best labour market outcomes and highest incomes of any educational attainment group, and they have experienced the highest employment growth over the last decade, according to the latest University Works report by the Council of Ontario Universities (COU).

“This latest report from the COU highlights the true value of a university degree. And with convocation upon us at Trent University this week, there is no better time to showcase to our newest graduates that their degree will equip them well for future success,” said Dr. Leo Groarke, president and vice-chancellor of Trent. “Here at Trent, we pride ourselves on the fact that 88 per cent of our grads are employed six month after graduation and 92 per cent after two years. This is in large part due to the way we teach here at Trent. We ask students to challenge the way they think – no matter what program or year, it’s about exploring new ideas, innovative ways of thinking and different perspectives.”

The report by COU Economist Cecilia Brain uses empirical data to conclude:

• Ontario university graduates have the lowest unemployment rates and highest employment rates, and the highest lifetime earnings.
• Over a 40-year period, graduates from Ontario universities earn on average $1.1 million (58 per cent) more than graduates from other postsecondary programs, and $1.5 million more than the average Canadian high school graduate.
• Three years after graduation, the employment rate for university graduates is 91 per cent.
• 86 per cent of recent university graduates report working at jobs that require skills acquired at university.
• University graduates who are immigrants earn 58 per cent more than their peers who graduated from other Ontario postsecondary programs, and those who are aboriginal earn 49 per cent more. Over a 40-year period, this amounts to a $1-million premium and an $800,000 premium, respectively
• Three years after graduation, the median bachelor degree holder earns 33 per cent more than the median college graduate.
• Ontario university graduates also have the third-lowest average debt from government sources among all provinces.

“I believe there is no better investment than one in education,” said Dr. Don Tapscott ‘66, Trent University’s first alumni chancellor and one of the world’s leading authorities on innovation, media, and the economic and social impact of technology. “The education I received at Trent has had a profound impact on my success in business. That tradition continues today with the University’s newest graduates who, thanks to Trent’s interactive and engaging learning environment, are well-equipped find success in whatever career they choose.”

University Works relied on data from Statistics Canada’s Labour Force Survey, National Household Survey, Income Statistics Division and National Occupational Classification for Statistics. It also drew on data from the Ontario Ministry of Training, Colleges and Universities’ Ontario University Graduate Survey and Employment Profile. 

Read the full University Works report here.

View COU’s University Works infographic here

Posted on Thursday, June 4, 2015.