Only One Of The Nation’s Top 10 Job-Creating Professions Requires A College Degree

unemployed-college-grads

According to the BLS, the US economy will create 24 million jobs between 2010 and 2010. Almost half of those jobs, 9.3 million, will come from this list of the top 30 fastest-growing professions as complied by Professor Mark Perry, but what’s most interesting about the list is how little college education is required.

… only five of the top 30 occupations expected to create the most jobs by 2020 require a college degree or more (nursing, post-secondary teachers, elementary school teachers, accountants and physicians), and ten of the fastest growing occupations don’t even require a high school diploma. Moreover, of the top nine occupations expected to create the most jobs this decade, only one (nursing) requires a 4-year college degree.

Meanwhile, national student loan debt has eclipsed the $1 trillion mark, making up the largest share of US household debt outside of mortgages. The 90-day delinquency rates for student loans are at 11%, an understated figure due to the fact that more than half of all student loan debt is in some form of postponed payment situation, though still a rate that’s higher than credit cards.

The cost of college tuition, not including expenses like books and fees, is growing at a rate four times faster than inflation and five times faster than household income. This is a bubble, and as an example of the lifetime of indebtedness this bubble is shackling America’s you to, consider this scary statistic: From January through August 6 of this year, according to Treasury Department data, the government garnished roughly 115,000 retirees’ Social Security checks for student loan payments. That’s nearly double the pace of the department’s enforcement in 2011; it’s up from around 60,000 cases in all of 2007 and just 6 cases in 2000.

And yet, we’re accumulating all this debt at a time when a college degree isn’t necessary for the fastest growing professions that will provide roughly half of the nation’s new jobs in the next decade.

Which isn’t to say that college is unnecessary, but rather to point out that we’re convincing far too many kids to go to college with our social attitudes and lend-happy student loan policies.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • kevindf

    The big education racket won’t like this news!

    • borborygmi

      You did look at the wages of the non college educated didn’t you?

      • http://sayanythingblog.com Rob

        And his many jobs for college degrees are being created? Not many.

        • igx

          *BINGO*

        • borborygmi

          HOw many of those “Careers , professions” are going to allow you to raise a family without some sort of assistance. I gave the basic prices living in Fargo and you can’t make it.
          I agree with you that they are a job but hardly a career.

          If you major in 16th century Germanic art History with a minor in
          p!ssed of women writers, your are not going to have a job.
          If you have a family in one of the lower paying jobs and say want to become a truck driver you have to figure out someway of saving 4g for the training. Tough to do when you are living paycheck to paycheck.
          Only a couple of fields that you can make a living wage without extended formal training, Commissioned retail sales and Blogger.

          • http://sayanythingblog.com Rob

            HOw many of those “Careers , professions” are going to allow you to raise a family without some sort of assistance.

            The assumption you make, which is a wrong one, is that people will stay in these careers their entire lives.

            For one thing, don’t discount the earning power of some of these professions. Plumbers, for instance, can make darn good money.

            For another, keep in mind that people begin these careers and then work into more lucrative jobs. The idea that people get one job, and stay in that job for 30 or 40 years, is a thing of the past.

            We live in a modern economy. It’s time people like you caught up with that.

          • borborygmi

            and as they move up they will most likely have to retrain by getting an education. I think the businesses should set up their own schools thus keeping a steady supply of employees that they have under contract.

    • slackwarerobert

      Won’t matter the teachers union will force the state to give them more money. After all with all those educated students they have more tax revenue. I am shocked none have passed a new didn’t pay back student loan tax yet.

  • AV

    Universities are places of learning, and for staff as well as students. Their primary purpose is (or, at least, was) not vocational training.

    It’s an externality that an educated society tends to also be (much) wealthier and more productive.

    Raging against education only shows that one is in need of more of it.

    • igx

      That’s all true but at the same time The left won’t realize college degree is an extremely overpriced effectively non- job signaling entity that THEY screwed up. both on the cost part and what they teach now.

      The painful interview that Peter Schiff does of OWS and at the Democrat National Convention speak for themselves.

      • AV

        Education is expensive, but knowledge is valuable, and we live in a high-tech society.

        And any college degree in science, engineering, or math is very useful. I doubt that these grads struggle to find jobs.

        • http://sayanythingblog.com Rob

          No, STEM field grads probably don’t.

          But not all knowledge is valuable, and most college students these days aren’t in the STEM fields.

    • http://sayanythingblog.com Rob

      Buy that’s not how the universities sell themselves. What are the kids told? Get the loan. Get a degree. You’ll make the money to pay it back.

      They don’t get to cop out now and say it was never about careers

      • AV

        I agree with your first sentence but, these days, most of us a pretty sceptical of marketing claims. E.g. when I enrolled, I knew that studying physics wasn’t vocational training (but turns out that we do ok for pay, anyway).

        And I doubt that even people doing arts degrees regret their higher education, even if it leads to low-paid work.

        • http://sayanythingblog.com Rob

          Really? You think someone who dropped 50k on an English Lit degree doesn’t regret it.

          Here I thought you were living in the real world.

    • borborygmi

      Knocked you above so sorry my mistake.

      • AV

        That’s ok!

    • http://sayanythingblog.com Rob

      “Raging against education only shows that one is in need of more of it.”

      Yes what a bunch of Philistines who think dropping six figures on a degree ought to result in a career.

  • The Fighting Czech

    Top 9 professions???? your kidding right? Did you actually take a look at that list? Fast food worker? bed pan slinger? unloading trucks? Walmart salesman? Thats what you call a “professional” career? The only one on that list that may actually pay something livable, is a Truck Driver, and of course that requires you to be constantly away from family for days or weeks at a time.

    Your average High school kid and/or his parents, takes one look at that list, and Ill guarantee college enrollment will increase.

    http://www.aei-ideas.org/2012/12/only-one-of-the-top-9-occupations-expected-to-create-the-most-jobs-this-decade-nusring-requires-a-4-year-college-degree/

    • http://sayanythingblog.com Rob

      And that would be a mistake. You think jobs for college students are just going to materialize because we have more college students?

      There are the jobs we think the economy ought to be producing, and then the jobs the economy will actually produce.

      People like you are still clinging to the myth. You’re part of the problem.

      • AV

        In a democracy, we (potentially) get choose the direction of our society, so that it’s one that we want.

        Your race-to-the-bottom economic views are the problem.

        • http://sayanythingblog.com Rob

          I have no problem with people choosing what they want. I have a problem with isolating people from the cost/consequences for their choices.

          Easy money for student loans has created a bubble, must like easy money for mortgages.

          • AV

            Kennedy’s space-race led to many more people getting STEM degrees, and the corresponding tech boom led to the US becoming dominant in hi-tech industries, especially semiconductors and armaments.

            Now people are doing law, finance, and business admin.

            Republicans have forgotten that you have to spend money to make money.

          • borborygmi

            you still have to pay back the loans.

      • The Fighting Czech

        Ok, you tell your kids to get a life long career slinging refried Beans at Taco Bell, Id encourage mine to go to college and be an engineer or something useful….

        Your way dooms a person to a life of serfdom. your welcome to it…..

    • slackwarerobert

      You haven’t been paying attention to obama, he is regulating the truckers to starvation. Then tossing fuel taxes on top of that.

  • borborygmi

    Shocker Rob Leaves out what these people will make , click on the link provided………now the rest of the story:
    Nurse out of College $65,000 the next five are Around $20k or less. Try bringing up a family on $20k or less. Oh remember that is Gross. NOw at 20K or less a family won’t be paying taxes but then Conservatives don’t think this is right either. So ding them for say 10% less in the conservative world. So about 1600 bucks a month, Take out rent, 500 take out food 300, take out insurance family health alone is 1200, single 300 at the least…Car, gas, insurance……And YOU sure don’t want those leeches living of the Gov’t. You don’t live in the real world Rob or Av or Kevin … Oh and I didn’t include kids into the mix. Then one of the spouses has a choice stay at home or child care so you can work which at the wages Rob is so proud of is a break even proposition.

    • http://sayanythingblog.com Rob

      I didn’t leave anything out. By the numbers, college is a bad deal for most who attend.

      • slackwarerobert

        Only liberal arts college. Math, engineering, computers, electronics, all work fine. Auto repair, cnc machining, etc not an issue working. Heck be the first on the market with an encrypter for the new must have black boxes in cars so the government cannot access the data without your decryption key and must obey the law and you will be very well off. You won’t be tampering, you will be safeguarding so no way to run afoul of law.

        • igx

          I don’t know about the trades, but all of the other stuff you mentioned is still extremely overpriced for no reason.

          • slackwarerobert

            Not if you stay out of the ivy league, and accredited schools. Best edumacation I ever got was from an uncredited school. Their 100 level classes taught more than a state university was teaching in 400 senior classes. Even graduate courses were lower. I would look at my classmates and wonder why this is just now being taught when I had it in ee-110.

          • borborygmi

            Two kids through college making 6 figures and paying back loans. It worked for me and mine. Nephew making good money from welding after two years of school although he eventually turned farmer. Just have to pick the correct fields. Loans used. Again it isn’t the loans it is the low expectations for entrance into college. Raise the standards and keep the casual student out.

          • http://sayanythingblog.com Rob

            Two kids through college making 6 figures and paying back loans. It worked for me and mine.

            Here’s the problem: The idea that kids are going to make high-salaries right out of college is a lie.

            Stop buying into the law.

            And of course student aid and government loans are the problem. Even if we raised standards, as you suggest, that still won’t remove the inflationary pressure on tuition all that “easy money” represents.

          • borborygmi

            They didn’t make high salaries right out of school. 50k not being a higher salary. They doubled what they made out of school because they did have the education they were put into the position to achieve a higher salary. Loans are meant to be paid back. They paid back or are in the process of paying back. If you raise admission standards so less people are getting in there won’t be as many loans. You want to limit a higher education to the wealthy while overlooking some very intelligent poorer students. Why don’t you want people to better themselves?
            Why don’t you want people to make more money? How many on this board have had a higher education or have had their kids get a higher education? Rob we know you didn’t but your entrepenurial spirit put you on the road to success. Congratulations.

          • http://sayanythingblog.com Rob

            The policies you support which supposedly make higher Ed more attainable have created a bubble that is hurting these kids.

            I want to return to a time when working your way through college was possible.

          • the Fighting Czech

            a nephew of mine, just graduated from college with his engineering degree. He has a job, and is making more money they he (or his Dad) thought possible…. go to college, be smart, and stay away from those useless degrees,

    • Walter Sickert

      If you only make $20,000 a year you can’t afford a family. So stop fucking.

      • http://sayanythingblog.com Rob

        Let’s also remember that having a college degree doesn’t guarantee you $65,000/year, much to the chagrin of all the students who ran up $65,000 in student loan debt to get their degrees.

        • borborygmi

          depends on the degree. Nurses are needed and will make that money.

          • http://sayanythingblog.com Rob

            You must not know many nurses.

          • borborygmi

            married to one. Depending on area and organization min is 45k to start for 4 yr RN which if my math is correct is double+ one of your don’t need a college education ‘careers’. More so in the cities. Apparently you don’t know many nurses,

      • borborygmi

        That should improve the economy. Less people buying. Pregnancy happens deal with it.

        • http://sayanythingblog.com Rob

          You need to stop looking at the economy as a group of consumers.

          We need to be an economy of producers. The point of live isn’t to have more children to consume more things and create more jobs.

          That sort of economy thinking must be rejected.

          • borborygmi

            Goes hand in hand if you don’t have consumers why would you produce.

          • AV

            Demand creates supply, but much less so the other way around.

          • http://sayanythingblog.com Rob

            Which is why subsidies for higher ed have been such a terrible idea,

          • borborygmi

            Why don’t you want poor kids to get a better education. Say they want to become nurses. They shouldn’t because they can’t afford to go to school?

          • borborygmi

            perhaps then you need to make more money to buy things that are produced. Either way the less you make in the “careers” you are so excited the less can be spent.
            Look you produce a venue for people to consume. If the consumer had to pay and because they had one of the low paying careers they wouldn’t consume. If we aren’t a consumer society what are we?

          • borborygmi

            I have thought about this statement. How does an economy of producers work. What is the incentive to produce how do you make a living producing. Your floor to lay out your economic plans. Are you placing production over consumerism or instead of consumerism?

  • Yogibare

    An interesting article recently in a national newspaper: the wealth and well being of a nation precedes the emphasis, pursuit, and attainment of higher education. Emphasis on and achievement of formal and higher education does not seem to be the precursers of a nation rising to middle-class and general wealth / well being.
    This seems to run counter to the sage advice we get from the folks in the education business. People need money and some degree of financial means before they seek the subtle and nebulous benefits of higher education.
    Don’t blame me—I didn’t make this up.

    • http://sayanythingblog.com Rob

      Meanwhile the kids with five and six figures in college debt can’t find jobs. Or find jobs in which their degrees are unnecessary.

  • igx

    I think the value of college, the return on investment, got majorly disguised by the a a-historic, effectively unnatural economic boom we had from 1982 to 2006.

    • borborygmi

      And you Sat&Sun college education. Your family?

      • igx

        I don’t get what you are asking. All I’m saying is it’s mostly a good thing no matter what, it’s just OVERPRICED. It wasn’t like this 30 years ago.

  • igx

    College today is effectively extremely overpriced human capital development. It’s a disaster.

    Debt fueled reverse redistribution to political class liberals.

  • Magnifico

    Americans place too much importance on a college degree. You always see that worn-out theme in commercials where some kid is bragging about being the first in his family to earn a degree. All the while, his neanderthal relatives are pawing at him like he’s some sort of god. Ever considered that they’re uneducated for the simple fact that they’re simple? The world needs ditch diggers, too.

    • borborygmi

      How about you or your family any post secondary education?

  • anothersotry

    http://finance.yahoo.com/news/still-afford-state-u-024300982.html
    We have this discussion every week between friends (Dr’s, business leaders, etc). College for a lot of careers doesnt pay.

    • http://sayanythingblog.com Rob

      I think that’s right. The reason why we see so many kids get degrees that are superfluous to what they actually end up doing with their lives is because of “easy money” college loans subsidized by the government.

      Which is also why the cost of college is out of control.

  • KornKing

    Where would our society be without a bunch of educated idiots with degrees in things like “Women’s Studies”?

  • matthew_bosch

    Business is good, when one offers intangible assets to customers who obtain financing through third party financiers. Limited risk for payment. Not to mention receiving public funding on the side.

    And wait there’s more!…when one spends more than it receives in revenue, one simply goes to congress and claims everyone hates teachers and America’s youth and receives additional funding.

    Business is good comrade…business is good.

    • borborygmi

      College educated? Or your children? spouse?

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