From the Washington Times:
Americans have long viewed a four-year college degree as essential to financial success, but a reportfinds that most graduates can’t find a job requiring a degree within a year of commencement.
The nonprofit Strada Institute for the Future of Work and the Burning Glass Institute reported this month that 52% of graduates were “underemployed” in food service, hospitality, retail sales, office administration and other fields a year after earning a bachelor’s degree. The study analyzed federal statistics, job postings and online resumes of more than 60 million U.S. workers.
Ten years after graduation, 45% still didn’t hold a job requiring college-level skills. By contrast, 79% of graduates who started their careers with college-level jobs still had such work five years later.
Perhaps this is merely an example of supply-demand imbalance. Because “those that know best” told everyone that a college degree was necessary to achieve success in life, we now have an over abundance of college graduates. If 79% of those who graduated college five years ago still have college level jobs, maybe at that time (five years ago) we had enough college graduates.
So what did the “everyone should go to college” dictum get us? … A deluge of individuals who owe more money than they can expect to pay in a reasonable period of time, and a future in which there will be a drought of skilled plumbers, electricians, etc.
3/13/24
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