After suffering through one of the worst recessions in its history, the UK is slowly returning to positive growth. According the latest economic report, second quarter GDP rose by 1.5 percent, more than most experts predicted. Of course, this does not mean that the economy is 100% healthy. Just last month, the unemployment rate rose to 7.9 percent, the highest on record.
And while the rise in GDP is auspicious, it is not nearly as important to the average person as the unemployment rate. For one thing, the unemployment numbers has a profound effect on education. As a general rule of thumb, when unemployment is low, students tend to study what they like, but when it is high, they tend to enter fields that offer greater job security.
Perhaps that is why colleges and universities all over the UK have reported an increase in the number of students applying to business schools. Thousands of students have even switched majors after they received special offers for these schools.
What is the appeal? It really is quite simple. Students worry about finding a job after college and a business degree affords them greater opportunities. Not only do these graduates have higher rates of employment, but they also receive higher starting salaries than the average graduate.
For students who have never had an interest in business, it is important to note that business schools have come a long way in the last few years, especially when it comes to technology. Lucrative fields of study like information technology are now a staple at most business schools.
