Last year’s graduates are enjoying higher salaries and a low unemployment rate according to the latest employment statistics.

But the good news could end there for this year’s graduates who are heading into an increasingly competitive hunt for work in an uncertain economic climate.

Figures from the Higher Education Statistics Agency reveal just six percent of graduates from last year are unemployed, and the 64 percent in full time work are earning an average of £20,000, up nearly three percent on graduates from the 2005/06 academic year.

The most popular job roles range from associate professional and technical occupations (32 percent) and professional positions (27 percent) to administrative and secretarial occupations (13 percent) and sales and customer services (10 percent). Salaries vary from £15,000 to £23,000, while the average salary of £20,000 among those who graduated in 2006/07 is up from £19,500 2005/06 graduates.

A Milkround spokesman said: “The credit crunch means recruiters are increasingly turning to the web as a cost-effective solution to fill their graduate vacancies, and this means Milkround.com is a key destination for savvy graduates to find their first job. These figures show there have been wage rises and plenty of jobs to go around over the last 12 months, however this year’s graduates will need to keep an eye on the opportunities available as the uncertain current economic climate may take its toll by reducing the number of places up for grabs on schemes or limit the number of individual vacancies.”

The figures also reveal which subjects offer the best employment prospects. Virtually all medicine and dentistry graduates are in a job, however eight percent of those who studied creative arts and design or mass communications and documentation are out of work, and one in 10 computer science graduates is unemployed.

Some 16 percent of last year’s graduates went on to start a postgraduate course, while nine have combined work with further study. Researchers found those who did complete an additional qualification were more likely to be in work as 77 percent of last year’s graduates are employed compared to the 64 percent of first degree graduates.