Our Overeducated Workforce: Who Benefits?
There are two “college jobs” (jobs requiring a bachelor’s degree) for every three “college graduates” (people 25 or older with a bachelor’s degree). What’s more, according to projections by the Bureau of Labor Statistics, this will not change much in the future as low-wage jobs grow somewhat faster than “college jobs,” while “college jobs” grow more slowly than the number of “college graduates.”
This blog has been an outlier in reporting this set of facts – see here, here and here. So while our readers should not be surprised by the recent report of the Federal Reserve of New York that “one in three college-educated workers typically holds a job that does not require a degree,” the mainstream media should be shocked.
Given these facts from official sources, it is a mystery how our leaders can go on and on about our growing “knowledge economy” and…
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