As Perkins (1990) points out, it has already become commonplace to observe that there is a substantial and increasing shortage of skilled young people entering the labour market. That much is well known, but what is to be done about it? One response emerged in the UK government's 1989 autumn public spending statement, in which plans were announced to increase the number of graduates by 10% over the next three years. Whilst this may help overcome certain skills shortages, the extra graduates will of course mean fewer other young entrants to the labour market. The overall supply of labour market entrants will only be increased to the extent that older people currently outside the labour market are encouraged to enter it. Skilled young people will remain hard to find. This article focusses on graduates, who form a large proportion of those skilled young people.
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