Universities UK Report Reveals £265 Billion Economic Contribution of UK Higher Education and Research Activities
the report finds that the total economic impact of the UK higher education sector on the UK economy is more than £265 billion.
The report considers the impact of the UK HE sector’s teaching, research, and innovation activities on the UK economy over the 2021-22 academic year. It found that, for every £1 of public money invested in the HE sector across the UK, £14 is put back into the economy.
They are huge local employers and could take down local business with them.
DH and I grew up in 80s in bits of UK textile and car industry didn't last out a parents working life - took decades for areas to improve economically.
If they go under currently issues with past qualifications being held - as no current national database.
Education still a route to a better life though less so each generation. A large proportion of DH students who go on to well paid jobs in a sector that doing quite well but is terrible at training people up in it and has staff shortages - are from similar backgrounds to us ie working class.
There are very few jobs here at 18 here that have any progression - uni degree still best bet for our kids to access higher paying jobs. They need higher paying job because cost of living and housing is so dam high. I suspect the employment rate would go up if Uni sector collapses with people in this age range as they may not be in areas they are needed but jobs to low waged to mean they can move to take.
Uni funding does need looking at - it cost the students, uni aren't getting enough and leaves the government with ever mounting debt that never gets paid off.
The night school system my Dad used to improve his education is gone and OU he later used is more expensive. There also an issue with UK business sector they seem to dislike investing in staff training or investing generally.
The sector brings money it bring it to country, world class research gets done and it still being a route to higher social economic class for many and probably keeps the unemployment rates down.
I don't think it as much it's middle class as it's a sector too big to fail though I think it may well slim down with merges and smaller institutions doing fewer range of courses perhaps with much larger numbers on them.