In the coming years, not enough American workers will have the right skills to fill the jobs that will be available.
- There are too many workers with a high school diploma or less.
- 78% of the unemployed do not have a degree beyond a high school diploma.
- In 2020, 38% of US workers will have a high school diploma or less.
- Unfortunately there will be 5.9 million more HS dropouts than jobs for people with that level of education.
- By 2020, 34% of American workers (nearly 57 million) are projected to have a bachelor’s degree or higher.,
- In 1995 only 25% had a degree and in 1970, just 13%.
- Despite this increase, there is a huge and growing shortage of people with college degrees, particularly in fields like engineering and computer science.
- By the end of this decade, there will be a shortage of 1.5 million college graduates in high-paying, high-skill jobs.
- At the same time, 20 million will have an associate degree or certificate, a 30% increase.
- 29 million others will have completed some college but not earned a degree.
Source: Trends Magazine, McKinsey Global Institute
Two quick things.
1) I’m so excited to find this site. I bought your book years ago and followed your weekly newsletter. So insightful.
2) The BLS put out a great chart that demonstrates the huge difference in risk in unemployment and salary expectations based on your education level.