I think its a waste of time for many people, not all people. The admittance rate at university has dropped significantly in the last 15-20 years. As Bluelion has said, the government has been ushering people into uni just so the unemployment rate is not as defined. We have a huge shortage of gas fitters in this country, we have a shortage of highly skilled electricians ( not domestic installers) we have a shortage of highly skilled tradesman in general. That is why a plumber can charge you 50 pounds for just turning up at your house.