Report: College graduates fare better through recession
A new Georgetown study reveals that those without college degrees have fared far worse through the recession, despite the rise in college tuition and much-discussed higher education bubble.
“The only thing that’s more expensive than going to college is not going to college, so you really don’t have a choice,” the study’s author Anthony Carnevale, director of the Center on Education and the Workforce at Georgetown, said on NPR.
The Georgetown study, titled “The College Advantage: Weathering the Economic Storm,” divides the work force into three categories of workers — those with no college, those with some college, and those with a bachelor’s degree or more.
By and large, those with at least a bachelor’s degree had better job prospects during the recession.
In fact, “nearly four out of every five jobs destroyed by the recession were held by workers with a high school diploma or less,” the report concludes. And these low-skilled jobs have not returned.
“Industries like manufacturing, construction and transportation, where many of the jobs don’t require college degrees, have all had sharp job losses since the recession started,” reports Forbes.
The recession has, however, narrowed the employment gap between men and women. Male college graduates lost nearly 200,000 jobs during the recession, however gains the number of jobs gained by female college graduates more than makes up the losses.
2 million jobs were lost to women without high school diplomas, while 3.6 million were lost to men. Men lost most of their jobs in blue-collar industries: “Two out of every three jobs lost by men were in construction and manufacturing.”
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