So, about that degree
Image: NextGenIT
Job seekers without a college degree, get ready for some good news. According to an analysis by the Burning Glass Institute, a think tank that studies the intersection of learning and work, 41% of current US job postings require a college degree, down from 46% at the start of 2019.
And looking ahead, Burning Glass projects an additional 1.4 million jobs will open up for workers without college degrees over the next five years.
⏩ Driving the trend… Demand for workers is high, and unemployment is low. There have been roughly 2x as many job openings as unemployed workers in America over the past 11 months, a record-high since the Bureau of Labor Statistics started tracking that data in 2002.
The end result? Stiff competition for workers, leading many large employers to rethink degree requirements for some jobs.
- Notable examples include Google, Bank of America, Delta, IBM, Accenture, and Dell, as well as the state governments of Colorado, Maryland, and Pennsylvania.
📸 Big picture: More than 60% of Americans over the age of 25 don’t have a bachelor’s degree, per the latest Census Bureau data. And nationwide college enrollment, already on the decline pre-pandemic, has fallen by an additional 1.5 million students since early 2020.
- On the flip side, an estimated 70+ million Americans – half of the working population – have learned job-relevant skills through alternative routes like trade school, workforce training, or community college, per nonprofit Opportunity@Work.
📊 Flash poll: Do you have a bachelor’s degree or above? (Click a link below to record your vote + see some follow-up questions.)
See a 360° view of what the media is saying →
Sprinkles in favor of the value of a college degree
- Some commentators argue that the long-term financial benefits of getting your college degree have been significantly underestimated by many professional ‘experts’ in recent years.
- Others contend that there are currently too many uneducated workers in America, as evidenced by the current lack of available applicants for positions requiring a college degree.
- “College Is Exceptionally Valuable, And We’re Undercounting It” –Derek Newton, Forbes
- “Jobs and the need for college degrees“ –Seattle Times staff
- “The importance of a college education” –Mark A. Heckler, Chicago Tribune
Sprinkles against the value of a college degree
- Some commentators argue that college degrees are currently overvalued due to risk aversion among recruiters: if they recommend a nongraduate who doesn’t work out, they’ll get blamed.
- Others contend that if they could do it all over again, they would forgo a traditional four-year bachelor’s degree program in favor of cheaper education options like community colleges or trade schools.
- “College Degrees Are Overrated” –Peter Coy, NY Times
- “Is college worth it?” –Shelby McCasland, The Simpsonian
- “The majority of Americans lack a college degree. Why do so many employers require one?” –Byron Auguste, WaPo
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