A new research has been able to reveal that workers with college-level degrees have been able to enjoy advantage over the ones who did not have those degrees in getting jobs in the current downturn phase.
It is suggested that the demand for higher-educated workers may surpass supply over the approaching decade.
There might not be adequate number of graduates available to meet the demands of the U. S. labor force by the year 2018.
By 2018, the United States will witness 46.8 million job openings, 63% or 29.5 million of which will need some college-level education or degree. One-third, or 16 million positions, will need a bachelor’s degree or higher, according to an account given by the Georgetown University Center on Education and the Workforce.
Companies will look out for 22 million new post-secondary degree-holders. However, a mere 19 million or so will have been able to earn an associate’s degree or something higher than that by then, according to the report. The difference comes at an average of a 300,000 yearly shortfall of college graduates between 2008 and 2018.
The report as well made a note that replacement job growth will carry on expanding and projects valued at 46.8 million, mainly from service industries, would be seen between 2008 and 2018.