Fredericton, NB — The New Brunswick Student Alliance is concerned by the latest employment outcome figures on the graduating Class of 2014.
The figures, released last week by the Maritime Provinces Higher Education Commission indicate declines over the past decade in full-time employment and median earnings (in constant dollars) for postsecondary graduates in New Brunswick.
“This represents a very real problem for the province’s ability to retain young people,” said NBSA Board Chair Sara Camus. “An educated, well-paid workforce is the future of New Brunswick and our graduates need to be adequately supported to stay in the province after their studies.”
The drop in the number of recent graduates working in jobs requiring university education or management indicates another worrying trend: the underemployment of young people across the Maritimes.
“Underemployment is a very real issue for recent graduates,” noted Robert Burroughs, NBSA executive director. “Add to that high debt levels and declining wages, and we have the makings of a demographic disaster for New Brunswick.”
The NBSA has previously urged government to address high debt levels — 50 percent higher than the national average — of graduates in New Brunswick by making necessary changes to programs such as the Timely Completion Benefit (TCB). The TCB, a debt relief program, was last modified in 2015 by imposing a higher debt-cap on students.
Burroughs added, “Student loan debt reduction is a component of the government’s Economic Growth Plan and should be: high debt levels are linked with slow economic growth and outmigration. Yet, two years on and the TCB remains unchanged.”