Padawanbater2
Well-Known Member
About 48 percent of employed U.S. college graduates are in jobs that the Bureau of Labor Statistics (BLS)
suggests requires less than a four-year college education. Eleven percent of employed college graduates
are in occupations requiring more than a high-school diploma but less than a bachelors, and 37 percent
are in occupations requiring no more than a high-school diploma;
The proportion of overeducated workers in occupations appears to have grown substantially; in 1970,
fewer than one percent of taxi drivers and two percent of firefighters had college degrees, while now more
than 15 percent do in both jobs;
About five million college graduates are in jobs the BLS says require less than a high-school education;
Comparing average college and high-school earnings is highly misleading as a guide for vocational success,
given high college-dropout rates and the fact that overproduction of college graduates lowers recent
graduate earnings relative to those graduating earlier;
Not all colleges are equal: Typical graduates of elite private schools make more than graduates of flagship state
universities, but those graduates do much better than those attending relatively non-selective institutions;
Not all majors are equal: Engineering and economics graduates, for example, typically earn almost double
what social work and education graduates receive by mid-career;
Past and projected future growth in college enrollments and the number of graduates exceeds the actual
or projected growth in high-skilled jobs, explaining the development of the underemployment problem
and its probable worsening in future years;
Rising college costs and perceived declines in economic benefits may well lead to declining enrollments
and market share for traditional schools and the development of new methods of certifying occupation
competence.
Underemployment Will Likely Continue During the Next Decade
It is undeniable that job growth generally has been sluggish in the past five years as a consequence of
the downturn in 2007 greatly aggravated by the 2008 financial crisis, and the subsequent very slow rate
of recovery from that. No doubt, slow increases or actual decreases in employment have aggravated an
already-existing phenomenon of underemployment for college graduates, but any thought that this is a
temporary problem related to the business cycle is wishful thinking.
It is interesting to compare the educational requirements for projected future jobs with projections as
to the number of employable college graduates. That comparison shows that the problem outlined above
will worsen in the coming years if past trends and stated projections regarding the training of college students
come true. More and more, a college degree will become far less than a sufficient condition for
receiving an occupational ticket toward living a comfortable, affluent, middle-class life.
http://centerforcollegeaffordability.org/uploads/Underemployed Report 2.pdf
suggests requires less than a four-year college education. Eleven percent of employed college graduates
are in occupations requiring more than a high-school diploma but less than a bachelors, and 37 percent
are in occupations requiring no more than a high-school diploma;
The proportion of overeducated workers in occupations appears to have grown substantially; in 1970,
fewer than one percent of taxi drivers and two percent of firefighters had college degrees, while now more
than 15 percent do in both jobs;
About five million college graduates are in jobs the BLS says require less than a high-school education;
Comparing average college and high-school earnings is highly misleading as a guide for vocational success,
given high college-dropout rates and the fact that overproduction of college graduates lowers recent
graduate earnings relative to those graduating earlier;
Not all colleges are equal: Typical graduates of elite private schools make more than graduates of flagship state
universities, but those graduates do much better than those attending relatively non-selective institutions;
Not all majors are equal: Engineering and economics graduates, for example, typically earn almost double
what social work and education graduates receive by mid-career;
Past and projected future growth in college enrollments and the number of graduates exceeds the actual
or projected growth in high-skilled jobs, explaining the development of the underemployment problem
and its probable worsening in future years;
Rising college costs and perceived declines in economic benefits may well lead to declining enrollments
and market share for traditional schools and the development of new methods of certifying occupation
competence.
Underemployment Will Likely Continue During the Next Decade
It is undeniable that job growth generally has been sluggish in the past five years as a consequence of
the downturn in 2007 greatly aggravated by the 2008 financial crisis, and the subsequent very slow rate
of recovery from that. No doubt, slow increases or actual decreases in employment have aggravated an
already-existing phenomenon of underemployment for college graduates, but any thought that this is a
temporary problem related to the business cycle is wishful thinking.
It is interesting to compare the educational requirements for projected future jobs with projections as
to the number of employable college graduates. That comparison shows that the problem outlined above
will worsen in the coming years if past trends and stated projections regarding the training of college students
come true. More and more, a college degree will become far less than a sufficient condition for
receiving an occupational ticket toward living a comfortable, affluent, middle-class life.
http://centerforcollegeaffordability.org/uploads/Underemployed Report 2.pdf
