Highly-educated workers faring better in jobs recovery
Thursday, January 24, 2013 10:52 AM
Workers across the country are experiencing different versions of the jobs recovery depending on their education level, CNNMoney.com reported.
The recovery is favoring those who are college educated, but leaving behind those with a high school diploma or less.
Workers with the highest level of education, which includes a master's, doctorate or professional degree, are experiencing the fastest employment gains. About 1.1 million more of them say they had jobs in 2012 compared with 2010, according to the U.S. Department of Labor. That's a 6.7 percent increase.
Workers with bachelor's degrees, which is a much larger group, have reported 5 percent employment gains.
Those with a high school education or less are a large group, making up 36 percent of all workers over the age of 25. About 767,000 fewer workers reported having a job in 2012 than in 2010. Over the same period, 2 million of them have left the workforce altogether.
Part of the reason can be explained by jobs that previously only required a high school education now requiring a college degree. Part of it is also that educated people are taking low-wage jobs that they are overqualified for.