Considering Trade Schools Over College (Part 3 of 3): The Impact of Economic Conditions and Job Security on Post-Graduation Employment Opportunities
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Many college-bound students have the incorrect perception that gaining a higher education or advanced degree will yield them the guarantee of a job and more money in their field of choice upon graduation. In some cases, perhaps in more specialized fields or ones with constant turn-over, this may be the case. Having a four-year degree in hand, however, is no guarantee that a job will be waiting as graduation gowns are swapped for business attire at the end of the school year.
Job opportunities in today’s market and current economic conditions may not be as readily available for new graduates as they may expect. While some colleges or universities may fare better than others in graduate attrition in the labor market, a recent report released by the Economic Policy Institute states that overall, the unemployment and underemployment rates for college graduates under the age of 25 are nearly double those from 10 years ago. Over the past several years, graduates have faced sluggish labor markets that offer limited job opportunities and salaries that can cover school loans and the rising cost of living.
College degrees are most certainly a career investment, and a valid one at that. This investment, however, requires a considerable amount of time and money, and the growing portion of graduates who are unable to find desirable employment (or even employment at all!) are seeing negative returns.
Beyond the issue of economic conditions lies the additional challenge of job security. Even if one is lucky enough to obtain a job – whether it relates to their field of study or not – in today’s labor market, more and more jobs are being outsourced to places where labor is cheaper, making domestic employment in certain sectors difficult to get. It is much easier to export, say, computer programming work or other information economy work than it is to export carpentry or electrical work, as that requires a physical presence. Furthermore, there is a growing domestic demand for high-precision skills. According to Forbes, skilled trade workers are a disproportionately older population and will only continue to get older, creating increased opportunities for young workers to fill their shoes.
So, with the impact of economic conditions casting a shadow on a student’s ability to find a job (no guarantees offered!) and many jobs being outsourced to cheaper off-shore options (thus reducing the number of jobs that are actually available state-side), perhaps those approaching high school graduation should at least consider the possibility of a trade/vocational school, especially if they are not in the top 10 percent of their class. A traditional four-year degree does not have to be for everyone, and trade schools at closer view can offer a compelling path, especially when considering the factors brought to light by economic conditions and job security.
