Ever since the Recession of 2008, the requirements to enter the workforce have become more and more intense. College degrees are now the norm for gainful employment in most places. These standards have been the case for some time now. A new study from Marketwatch shows just how bad it has gotten. That is to say: Employers are demanding educated workers and dismissing less-educated ones.
A new push for the educated
According to a new Marketwatch study, “nine out of 10 new jobs created in the last year have gone to those with a college degree.” Additionally “a three-month average finds that 91 percent of the net increase in jobs held by those at least 25 years old are filled by those with bachelor’s degree.
It is claimed that employers’ desire for a more educated workforce is due to the recession of 2008. Anthony Carnevale, director of Georgetown University’s Center on Education and the Workforce, asserts that recent data does, in fact, fit the pattern since the recession, which shows increased employment for those with bachelor’s degrees or higher, more subtle increases for those with a little bit of college education, and an actual fall in employment for those who only have a high school degree or less.”
What’s going on?
Well, it isn’t so clear. Some claim that it is all due to the increasing reliance on technology. Specifically, the change from an industrialized economy to a service-industry one. The new line of skills required are ones that are most easily obtained through a secondary education such as effective communication, analysis skills and administration skills. Additionally, fields such as science, technology, engineering and mathematics often demand certain skills from their employees.
An alternative theory
A Harvard Business School study has found that employers who hire college graduates result in the loss of middle-skill workers. When college grads are hired, the study shows, oftentimes there is a higher turnover rate as well as a demand for increased wages. Plus, employers have frequently been filing complaints about the poor work ethic of their college-grad employees. College credentials may not mean everything after all.
The situation is tough. And many argue that if we took the economy back to valuing building infrastructure, there would be a resurgence of jobs for workers with high school diplomas. However, after the buildings are built, it could very well just return to an unfair advantage for college graduates. Although in that interim period, work would flourish for less-educated people.
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