Increased Demand for Postsecondary Education Projected as Economy Recovers

There will be 55 million job openings nationwide through 2020 as the country recovers from the 2007 recession, according to the most recent report by Georgetown University’s Center on Education and the Workforce, “Recovery: Job growth and education requirements through 2020.”  But the country is facing a potential labor shortage, as too many members of the workforce will not possess the postsecondary credential required by so many new jobs. If we continue at our current production rate of postsecondary-educated workers, the U.S. will be five million employees short of the needed educated workforce.

The jobs available, and their required qualifications, are changing, particularly in regards to education levels. 65% of jobs in 2020 will require post-secondary education, up from 59% in 2010. This demand will be considerably greater in Massachusetts, with 71% of jobs requiring education beyond high school.  16% of jobs will require some college, 8% an associate’s degree, 28% a bachelor’s degree, and 19% a master’s degree. Having no postsecondary education will be a severe limitation on the job market, as just 29% of Massachusetts jobs will be open to those who finished with high school or before.

Employers’ requirements are also projected to shift in regards to skills. Cognitive skills such as active listening and critical thinking will be favored over the physical skills desired in manufacturing, with the exception of the “near vision” required to read documents and computer screens.

For those who can meet these growing demands, the future holds promise. A startling 1.3 million new jobs are projected in the state, the result of a 15% overall growth rate. The fastest growing industries will be healthcare support, STEM, social sciences, managerial and professional office, and community services and arts jobs, though social sciences will remain the smallest of the considered industries. The majority of jobs in these growing industries require postsecondary education. Of these, healthcare support jobs have the lowest percentage of required postsecondary education jobs (51%); however, this industry has lower wage growth than the others. A startling 79% of STEM jobs will demand postsecondary education attainment.

The coming decade should bring many new job openings in our state and nationwide – but our current education system is not adequately preparing students to avail themselves of these opportunities. As MBAE has consistently stated, it is critical that the Commonwealth’s schools provide ALL students with the knowledge and skills needed to succeed in postsecondary education, so they are able to secure these jobs and our businesses are able to thrive and grow here.