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Bachelor’s degrees are no longer required for many jobs

In Mississippi, the state auditor released a report  in September 2023 that rated academic degrees by whether the degree would lead to a well-paying job. He suggests that Mississippi invest more in programs in the subject areas leading to those high-paying, in-state jobs. Basing appropriations on immediate wage outcomes implies that near-term economic return is the only benefit that matters, and it is a theme that is recurring frequently.

College earnings premiums appear to be declining for the first time in decades and the value proposition of college is beginning to fade in the eyes of many, according to the Harvard Workforce Almanac. As education costs continue to skyrocket and student debt mounts, Americans are reconsidering whether college is truly worth the expense. One means of addressing the issue is to provide data to better inform decision-making.

The Indiana General Assembly recently passed three bills that have the potential to impact the workforce in the state. Two bills address college affordability while the third exempts active-duty military from paying individual state income tax.

The Department of Labor (DOL) announced that it will award $450 million in job-driven training grants to nearly 270 community colleges across the country via the Trade Adjustment Assistance Community College and Career Training (TAACCCT) competitive grant program, which is co-administered by the DOL and Department of Education. The awards are to support community college-industry partnerships that will expand and improve education and career training programs offered at community colleges across the country.

What is the value of a college degree today? While tuition costs continue to rise, opinions on the perceived value of the degrees institutions of higher education provide are falling.

The recently published, 2022 edition of New America’s annual survey on American perceptions of higher education, Varying Degrees, includes findings that should be of interest – and potential concern – for the TBED community. The report includes updated findings on American perceptions of the value, funding, accountability, and admissions for higher education and perceptions of current financial security. It also reveals significant differences in perceptions of higher education based on respondents’ political affiliations.

The National Student Clearinghouse Research Center recently released the third report in its Some College, No Credentials (SCNC) series investigating the educational trajectory of U.S. adults who have left postsecondary education without receiving any credentials. This report addresses concerns about low student success rates across the nation and intends to identify opportunities where SCNC students can be encouraged to continue postsecondary programs and earn credentials.

At a critical junction for the American workforce, the U.S. Chamber of Commerce Foundation (USCCF) has launched a new initiative to develop new models for investment in the workforce of the future.

Students and tech employers stand to benefit from a new initiative in Virginia that grew out of the Commonwealth’s proposal to Amazon, which is building its second headquarters in Northern Virginia. Last week, Gov. Ralph Northam announced that Virginia will invest in their tech talent pipeline to produce 31,000 new computer science graduates over 20 years.

While higher education remains a viable path to economic advancement, adults without a postsecondary degree are increasingly benefitting from non-degree certificates and certifications, according to a recent report. As automation and technological advances demand more skills from workers in the changing economy, Strada Education Network and Lumina Foundation partnered to determine the value and impact of the growing number of non-degree credentials.

At a time when higher education degrees are both under scrutiny and lauded, one county government in Colorado is experimenting with an initiative that has eliminated degree requirements for more than 80 positions. It wasn’t the value of the degree that prompted the move, but the question of equity and wanting to achieve a more inclusive workforce. While such moves are rare, similar efforts may blaze the way to new workforce requirements and advancements and help inclusion.

The Washington legislature passed a higher education bill that is awaiting the governor’s signature that would provide more aid for state residents attending higher education institutions in the state. The bill could raise nearly $1 billion over four years through an increase in the state’s business and occupation tax.

Educating the next generation of workers, ensuring they will have the skills necessary for the jobs of the future and paying attention to the actions that will affect the climate are all on the agendas of the latest round of governors giving their state of the state and budget addresses. A focus on skills can be seen in addresses from governors in California, Maine, Michigan, Oklahoma and Pennsylvania. States are also continuing with initiatives to forward attention on climate change, as reflected in Maine’s climate agenda and Michigan joining other states in the Climate Alliance.

Alabama Gov. Kay Ivy announced the Alabama HBCU Co-Op Pilot Program to provide students at the state’s 14 Historically Black Colleges and Universities (HBCUs) with the opportunity for hands-on work experience in STEM fields as well as create greater collaboration between Alabama’s HBCUs, industry, and government. Participating students will be required to complete three co-op semesters with some of the state’s top companies in order to gain a sense of professional experience in the area of their majors.

North Carolina and Tennessee are implementing new initiatives to get students in their states the help they need to either complete degrees or training that will help improve workforce development in those states. North Carolina’s governor recently added a new line of grants dubbed “Finish Line” grants, to help students that are struggling with non-academic problems complete community college.

For the economic development community as a whole, the issue of retaining and attracting talent is of the utmost importance. While a visualization in a Wall Street Journal article looks at where graduates move after college, an interactive analysis by the Pew Research Center examines where foreign student graduates work in the United States.

Low-income students in the Dallas County Community College District (DCCCD) will be among the first allowed to use federal student aid to enroll in programs offered by nontraditional educational providers. The providers — including coding bootcamps, online courses, and employer organizations — are partnering with accredited colleges or universities through an experimental program called Educational Quality through Innovation Partnerships (EQUIP). The U.S.

This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.

Adults in Tennessee seeking to return to the classroom will have a new option for free tuition at community colleges, part of an expansion of the Tennessee Promise scholarship program. The newly passed and expanded Tennessee Reconnect legislation extends eligibility for free tuition to persons who have been out of school for longer periods of time or who may have never attended college. It is part of Gov. Bill Haslam’s “Drive to 55” focus, where he hopes to increase the percentage of the state’s adults equipped with a college degree or certificate to 55 percent; it is currently closer to 30 percent in Tennessee.

Noting a growing need for additional education to meet workforce needs, several states have announced programs focusing on education and workforce needs, channeling state funding to grants that will focus on aligning learning opportunities with business and industry needs, or creating new initiatives in the private sector. Reaching a higher educational attainment among a greater percentage of the workforce by 2025 is also a goal set by several of the states.

More than 40 percent of people trained as scientists and engineers indicate they are either working outside their field of study or working in a field only somewhat related, according to a recent study. Findings reveal that the majority of those working outside their academic major choose to do so voluntarily, and they are more likely to become entrepreneurs. Less than 25 percent of educational mismatches occur because of labor market conditions. Instead, workers are choosing different jobs due to changing career interests or family obligations.

Throughout the Great Recession, numerous stories from sources like The Wall Street Journal pointed to the idea of the overeducated and underemployed recent college graduate as a symbol of the economic times. While some recent graduates were able to find work in their respective fields, many did indeed struggle.