More Jobs Going to Those With at Least Some College

The debate about the value of a college education continues now that the job market has expanded. A study published in July 2016 by Georgetown University explains exactly how American workers earned new positions during the recovery from the Great Recession. It turns out that a person's educational level made a huge difference when it came to hiring workers.

Some College Needed

According to the study, 11.6 million jobs were created between January 2010 and January 2016. Of those, 11.5 million jobs went to job seekers who had at least some college education, including those who didn't necessarily earn a degree or attend college for four years. Of the 11.5 million jobs, 8.4 million went to people with a bachelor's degree. Approximately 3.1 million jobs were given to workers with an associate's degree or some college training.

Contrarily, people with a high school diploma or less were not given as many jobs. During the Great Recession, 7.2 million jobs were lost in America, instantly leaving 5.6 million people with a high school diploma or less without work.

Understanding These Statistics

The Georgetown study seems to indicate that workers with at least some college education are more likely to get positions and get ahead in the American labor market. The statistics also indicate that needing a college degree is part of a long-term trend. Even manufacturing jobs require higher education, as workers need to know how to engineer automated machines, work with advanced technology and run a production line. Manufacturing is no longer grunt work. Instead, it is an engineering marvel.

Another aspect of the economic recovery relates to job skills. During the recession, firms hired people with a college education even though the job didn't require it. Those workers accepted jobs for which they were overqualified simply because they needed the money. When higher-skilled workers left low-skilled positions after the recovery happened, employers maintained the position required some college education. Employers with low-skilled positions now expect more out of their job prospects.

Downsides

Less than 33 percent of Americans older than 25 have a four-year degree, and bachelor's degree holders gained the most jobs during and after the recession. Since the recovery, the costs of college has risen must faster than inflation, which makes going to college cost prohibitive to low-income families seeking to improve their job skills.

Student loan debt has also increased, and the burden of paying off those loans may decrease someone's take-home pay. Even with student debt, college may be a viable choice for workers in the future.

Getting a college education appears to be necessary for those who want to get ahead in the American labor market. Job seekers should consider the statistics provided by Georgetown University when choosing a career path to ensure they land a position that ensures their stability and financial security.

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