America rethinks how to train its workforce
https://www.ft.com/content/f9cdc9ca-c2a9-4fe1-89fc-c27b53d936b9
Oren Cass:
In the first two decades of the 21st century, the US added college graduates twice as fast as its labor market added jobs that require a college degree. Now, the unemployment rate for young college grads equals the level reached in the depths of the so-called Great Recession. For the first time since the 1970s, the unemployment rate for bachelor’s degree holders is higher than for occupational degree holders.
The second key trend is that the supposedly inevitable migration of economic opportunity from the physical world to the “knowledge economy” has suddenly reversed course.
https://www.ft.com/content/f9cdc9ca-c2a9-4fe1-89fc-c27b53d936b9
Oren Cass:
In the first two decades of the 21st century, the US added college graduates twice as fast as its labor market added jobs that require a college degree. Now, the unemployment rate for young college grads equals the level reached in the depths of the so-called Great Recession. For the first time since the 1970s, the unemployment rate for bachelor’s degree holders is higher than for occupational degree holders.
The second key trend is that the supposedly inevitable migration of economic opportunity from the physical world to the “knowledge economy” has suddenly reversed course.