Sobering article in Bloomberg about college grads increasingly filling low-wage jobs, displacing less educated workers. More might do well to consider strategic associate degrees and skilled trades (discussed in chapter 11 of Preparing Your Teens for College). A few excerpt:
- The jobless rate of Americans ages 25 to 34 who have only completed high school grew 4.3 percentage points to 10.6 percent in 2013 from 2007, according to Bureau of Labor Statistics data. Unemployment for those in that age group with a college degree rose 1.5 percentage points to 3.7 percent in the same period.
- The share of Americans ages 22 to 27 with at least a bachelor’s degree in jobs that don’t require that level of education was 44 percent in 2012, up from 34 percent in 2001, the study found.