Industrial Insight

fewer people need college?? | January 28, 2013

http://www.nationalreview.com/corner

We Need Fewer College Graduates?

By Maggie Gallagher
January 28, 2013 11:21 A.M

According to a new study, based on 2010 Labor Department data and led by economist Richard Vedder, the number of college graduates in the work force (41.7 million) in 2010 was larger than the number of jobs requiring a college degree (28.6 million).

“That, he says, helps explain why 15% of taxi drivers in 2010 had bachelor’s degrees vs. 1% in 1970. Among retail sales clerks, 25% had a bachelor’s degree in 2010. Less than 5% did in 1970.

“There are going to be an awful lot of disappointed people because a lot of them are going to end up as janitors,” Vedder says. In 2010, 5% of janitors, 115,520 workers, had bachelor’s degrees, his data show.”

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I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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