BLOOMBERG: Economic value in the United States is being held up by college graduates in the wake of lost factory jobs.
BLOOMBERG: Economic value in the United States is being held up by college graduates in the wake of lost factory jobs.
For the report, published Monday by Georgetown University’s Center on Education and the Workforce, Georgetown’s Anthony Carnevale and Stephen Rose analyzed several sets of government data to show job opportunities for college-educated workers have grown, and college graduates produce more than half of the country’s economic value. From 1967 to 2007, the share of high-skill management and professional jobs rose 14 percent, and those jobs represent 35 percent of all U.S. jobs.
Over the same period, opportunities for low-skill workers declined 10 percent. These low-skill labor roles, such as fast-food server, retail worker, and dishwasher, now make up only 29 percent of jobs. Carnevale and Rose examined data from the U.S. Census Bureau showing hourly earnings from 1973 to 2007. The numbers show that, contrary to the pessimistic views of some, college-educated workers were in significantly more demand in 2007 than they were a couple of decades ago.
