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I wonder what the impact of the rising base rate of employees with college degrees is. In 1992, a fresh college graduate had better educational attainment than

I wonder what the impact of the rising base rate of employees with college degrees is. In 1992, a fresh college graduate had better educational attainment than 42% of the labor force. In 2016 (latest date I found numbers for), that was down to 32%. https://www.bls.gov/spotlight/2017/educational-attainment-of-the-labor-force/home.htm https://www.bls.gov/spotlight/2017/educational-attainment-of... That shifting distribution would somewhat reduce the advantage of a college degree against the average member of the labor force.

downrightmike 4mo ago
Outcome is the same as in the great depression: new people can't get on the ladder and if you fall off the ladder, you'll never get back on.
hdgvhicv 4mo ago
Compare under 27s with a degree vs without and you see the problem is youth unemployment. If you are 25 you’re better off with a degree than without though. In the U.K. youth unemployment is about 2005-6 levels. It was far higher by 2010.
labcomputer 4mo ago
Ding ding ding! This also neatly explains why Boomers were able to have a good life with just a high school diploma. Wikipedia has a good chart, but the short version is that having a high school diploma in 1965 meant you were better educated than 50% of the labor force. PhDs are the new undergraduate degree.
laughing_man 4mo ago
It seemed like good advice as the manufacturing sector shrank.