A common prerequisite as a condition for employment, the bachelor’s degree may not be as coveted by employers in the future. Companies and politicians are reevaluating the necessity for four-year degrees due to a lack of workers to meet demand.
Higher education enrollments skyrocketed when former President Obama echoed that the surest path to the middle class was a college degree, but in the past few years, requirements for the diploma were nixed by state after state to fill government vacancies. Republicans, Democrats, and corporations are now opting for the degreeless but skilled.
Government employment has struggled due to the tight labor market despite the fact government employees increased by 46,000 last month. According to the Bureau of Labor Statistics, government employment is still below pre-pandemic levels with a deficit of 376,000 workers. Understaffing has weakened transit safety, water access, and hurricane relief efforts, driving local and state governments to depend on federal aid during emergencies, and attract employees with perks such as signing bonuses.
Instead of raising budgets to contend with the private sector’s benefits and salaries, state governments are contending with their historic vacancies by looking to those who don’t have a bachelor’s degree. According to the Census Bureau, 62 percent of those over 25 years of age do not hold a four-year degree.
The private sector has been looking beyond degrees far before there was bipartisan consensus. Apple CEO Tim Cook and Tesla CEO Elon Musk have notably criticized a college education with regard to not necessarily teaching students the skills needed to be successful in the workplace. Half of Apple’s US workforce did not possess bachelor’s degrees in 2019, according to Cook.
According to the Wall Street Journal, online college-alternative programs are utilized to employ Google employees who have not obtained four-year degrees. Diplomas are not required at IBM for the majority of US positions, and Delta Airlines has eliminated the requirement for pilots.
Burning Glass Institute reported thinktank findings in 2022 and the results showed 31 percent of high-skill jobs and 46 percent of middle skill jobs have cut four-year degree requirements between 2017-2019, and those alterations are forecasted to be permanent.
While a bachelor’s degree may raise your potential for earnings, it may not necessarily hold the key to middle class in the future.
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