If you ever wondered if you should go to college, the latest statistics are in that affirm a college degree is definitely required if you want a job. According to a study recently published by the Brookings Institute, 43 percent of job openings require at least a bachelor’s degree and that it is taking more than a month fill positions due to educational requirements. Meaning, that if you don’t have a degree, your chances of getting hired for a well-paying job are down there.
The interesting outcome of the report is why this is so important. Yes, educated workers seemingly possess higher knowledge but it the reason is more of an economical one. Educated workers, it seems, have higher buying (spending) power which creates the need for more services and business opportunities. Cities that are well-educated “have a significant higher rate of job openings, higher business growth, and higher job demand.”
Another aspect of the report is on the value of what an education provides – increased knowledge and skills. The workforce is requiring more highly skilled employees, and having a degree speaks to this need. Workers with no diploma have a difficult time finding job openings – according to the study, in 2007 there were 2.9 job openings for undereducated, while 2011 saw 1.6 openings. In 2007, there were 12 job openings for unemployed workers with a college degree or higher but only 5.6 openings in 2011.
This trend does not seem to be easing soon, if it ever will. But the economic advantage is, as the study says, “boosting educational attainment is the only way to lower unemployment, especially in the nation’s hardest-hit regions.”
What are your thoughts on the study findings? Would love to hear your thoughts – share below!