A controversial report from the Center for College Affordability and Productivity, which describes itself as “dedicated to researching the rising costs and stagnant efficiency in higher education” criticizes political leaders, prominent foundations, and college officials’ notions that the U.S. must increase the proportion of adults with college degrees in order for the country to remain competitive in the global economy. The authors disagree with the policy-makers’ beliefs in a “simple, direct relationship between the amount of education in a society and its future growth rate, particularly with respect to employment prospects for the young that are commensurate with their educational achievements.”
Instead, they maintain that while many do benefit from having college degrees, a meaningful number are underemployed – either not working, working only part-time, or working in positions that historically have been filled by those with relatively little education. They point to the following as evidence of current underemployment rates and worsening prospects:
- about 48% of employed college graduates are in jobs that the U.S. Bureau of Labor Statistics classifies as requiring less than a four-year college education and 37% are in occupations requiring no more than a high school diploma;
- comparing average college and high-school earnings is highly misleading as a guide for vocational success, given high college-dropout rates and the fact that overproduction of college graduates lowers recent graduate earnings relative to those who graduated earlier; and
- past and projected future growth in college enrollments and the number of graduates exceeds the actual or projected growth in high-skilled jobs.
Finally, they suggest that rising college costs and perceived declines in the economic benefits associated with degrees may well lead to declining
enrollments and market share for traditional schools and the development of new
methods of certifying occupation competence.
