In the season of college Early Action and Early Decision notifications being released to the class of 2025, it’s time to dive into the real question at hand: how is the shifting American workplace affecting higher education?
Amid rising tuition costs, “public 4-year institutions increased 36.7% from 2010 to 2023,” and mounting student debt, with Americans owing “a total of $1.75 trillion in federal and private student loan debt combined,” the percentage of people that find college to be an extremely important factor in having a successful life has decreased (Data Education Initiative). According to Pew Research Center, “about half of Americans say having a college degree is less important today than it was 20 years ago.”
Moreover, government data indicates that younger adults without college degrees are benefiting more than they have in the past. Starting in the early 1970s, young adults without college degrees experienced “falling labor force participation and sagging earnings,” but new research suggests that the tables have turned for this demographic.
According to Pew Research Center, “earnings of young men without a college degree have increased over the past 10 years,” and “earnings of young women without a college degree have trended up in the past decade.”
As the evidence displays, there have definitely been changes in our society that support the idea that a college education may not mean what it used to. Stemming from the pandemic in 2020, there have been major changes in the American workplace related to the labor shortage. According to NCSU.edu, “COVID caused a restructuring of where people work, affected how much workers are paid, and accelerated the development of machines and technology that could replace humans in the workplace.”
So, what happens when the demands for office staff have decreased, and the hundred thousand dollar degrees aren’t paying off? A population pivots.
According to the National Center for Education Statistics, “trade school enrollments grew 4.9% from 2020 to 2023.” The report also notes that in the same time span, “traditional higher education enrollments dropped by 0.6%.”
A prime example of this movement is through the mikeroweWORKS Foundation, a national PR campaign for skilled labor, working to create scholarship funds and encourage the population to learn about skilled trade careers.
Trade schools allow for more financial stability in a quicker time span, real-world experience, variety of programs, and, probably, most importantly, direct entry into a high-demand career.
It’s evident that the changes in American society have created a different workplace. It’s not so easy anymore to simply attend college, get a job, buy a house, and then retire. The job market has become more competitive, with workers needing to be more versatile and agile in order to stay employed. Companies are also increasingly relying on technology, meaning that workers need to stay up to date on the latest trends in order to stay competitive. Furthermore, companies aren’t looking at a college degree as a non-negotiable. So, maybe 4-year institutions aren’t the answer for everyone.