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Loss of degree Courses - its not only the UK
I have been trying to find some sort of ref to back up my previous post. This is 8 years old:

but the conference (in 2005) included presentations from the SCFA on the need for the encouragement of transferable skills because a) only a small percentage of graduates go into (or CAN go into) archaeology, whereas b) archaeology is one of a few humanities subjects that can encompass so many skills and so is an attractive/acceptable degree to employers. This 2002 research, admittedly in a different economic climate, does show that the majority of graduates do end up in employment or pursue further training or research. I do not know of any more recent studies but then I haven't been involved in such pedagogical research for a few years now.

I will keep looking.
Re: transferable skills - for example
Seem to recall from the dim and distant past that some ridiculous percentage of archaeology graduates wound up in careers in banking, accountancy and the like (wasn't there a CBA survey in the late 70s or early 80s along those lines?). Presumably the banking route's gone a bit t***-up these days.....

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