In a twist of economic fate, more employers are turning to skills-based applicants instead of those with college degrees. The numbers are slowly turning the tide in hiring because the job market is tight.
This is the direct result of an overblown college admissions and tuition agenda and the indirect result of student loan debt. At some point the workforce was sure to decline. The same will result in every other economic area where people have been exploited.
Soon, banks will drop the bar when giving out loans because people are simply not earning enough to compete with the cost of living and rats will take up residence in the thousands of vacant houses on the market.
From the grocery stores to the farms, food and gas prices will have to drop otherwise there will be empty freeways without delivery trucks or cars and full of sick and starving people seeking medical attention when the hospitals go out of business.
At some point, there will be no one to work anywhere because everyone will have a criminal record, and hundreds of thousands of children will be on the streets because child care is so high. The capitalist economy will continue to settle because it is not sustainable under such corporate greed.
Needless to say, however, the following report gives a look into the future of American capitalism and greed.
“New research released by Indeed, a popular job posting platform, shows that the number of postings requiring college degrees — or any education requirement at all — is dwindling.
Indeed found 52 percent of postings on its site had no formal education requirement as of January 2024, up 4 percent from 2019. The number of postings requiring four-year degrees went from 20.4 percent to 17.8 percent in the past five years.
“Employers are loosening their formal education requirements as the labor market remains tight and attitudes towards skills-first hiring practices change. Those same employers seem more willing to consider candidates who can demonstrate the required skills without necessarily having a degree,” Indeed said in their analysis.
The research also showed that formal education requirements are declining in almost every job sector. STEM-related fields have the most postings that require higher degrees, while sectors such as education, food service and cleaning and sanitation have the lowest education requirements.
Indeed points out this research is hopeful since 64 percent of Americans do not have a bachelor’s degree. “While educational requirements are unlikely to vanish from job postings, growing support of skills-first hiring approaches is a clear sign for workers to invest in skills now, regardless of their education level. In other words, even college-educated workers may have to think about reskilling more going forward,” Indeed put in its conclusion.”
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