In another sign there is a large over-supply of university graduates in Australia, the commuters’ afternoon newspaper, mX, reports today:

University graduates struggling to find jobs in their field are knocking down the doors at blue-collar workplaces.

The February jobs figures released by the ABS today showed the unemployment rate remained steady at 5.6 per cent for Queensland and 5 per cent nationally.

But despite the relatively low rate, it seems not all job seekers are satisfied, with Brisbane removalist business owner Mike O’Hagan, of MiniMovers, saying he has been inundated with job applications from overqualified uni graduates looking for work.

This is a legitimate story and not some A-Current-Affair-style beat up. Prominent Australian uni watcher Andrew Norton (of the University of Melbourne and Centre for Independent Studies) has long observed that Australia is producing too many university graduates relative to the available jobs requiring tertiary qualifications – with over 25% of graduates over-qualified for their jobs. See, for example, this blog post from Mr Norton:

Over-qualified workers

Regarding today’s labour market figures, the temporarily weak jobs market is expected to last for a few months more, before rebounding later in the year, as observed by the Queensland Treasury in a briefing note today:

Employment outcomes are likely to be weak in coming months reflecting modest domestic activity as well as the impacts of flooding in some regions. However, employment growth is expected to strengthen into late 2011, reflecting improving business investment and the rebuilding process following multiple natural disasters.