The jobs of the future are going to require a more educated workforce, to the point where the U.S. may have as much a 5-million-person shortage of people with post-secondary education by 2020.
That number, via a new Georgetown centre on Education and the Workforce report, shows that recent weakness in the job market for young graduates isn’t a sign that a degree has lost any value. On the contrary, degrees are getting more valuable, and the cost of missing out is growing.
Georgetown is optimistic about the recovery going forward, expecting 55 million openings in the economy through 2020, which will mostly go to people with something more than a high school diploma.
Even today, people with a bachelor’s degree have done much better since the recession:
The proportion of jobs that require education beyond high school has exploded since 1973, and we haven’t been producing enough grads to keep up. In 10 years, nearly two thirds of all American jobs will require some higher education.
Take a look:
Financial services are expected to see the biggest growth, with more than 4 million new jobs, most of which will require at least a bachelor’s:
There’s more data on the report’s trends in this presentation:
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