Jobs and Education

Jobs and Education

I have written before on this when I used percentages of both supply and demand. But I was assuming that the number of people in the workforce and the number jobs were the same. In other words the supply and demand pies were the same the size. I was fairly sure that they were not. The fact that they are not just means that things are far worse than I thought.

As of January 2017 the US had about 145 million jobs. So the demand is 145 million jobs.

<< http://www.deptofnumbers.com/employment/us/>&gt;

Now 34% or about 1/3 of adults 18-65 are considered not in the workforce so the workforce is triple 88 million or 264 million people. So, the supply is 264 million people.

So, we can see that the number of people is almost double the number of jobs. We have only about 55% of jobs needed. Increasingly more and more of these jobs are part-time or contract jobs. Also, the net is a loss of jobs over time, due to mainly, technology. Yet the powers that be push more and more and more of it on us.

The Bureau of Labor Statistics (BLS) has the following job requirements (or demand) for each level of education:        Given 145 Million jobs:

Less than a high school diploma = 27% 39.15 million

High School diploma = 39%                      56.55    “

Some college but no degree = 7%            10.15    “

Associate’s degree = 4%                             5.80    “

Bachelor’s degree = 18%                           26.10    “

Master’s degree = 2%                                  2.90    “

PhD = 3%                                                        4.35    “

 

According to << https://en.wikipedia.org/wiki/Educational_attainment_in_the_United_States>&gt;

Educational level attained for those over 25 (does not include 18-25 year olds):

Less than high school 100 – 88.31 = 11.69%

High School/GED  = 88.31%           ages 25-29  90.8%

Some college = 58.57%

Associate’s = 9.93%

Bachelor’s  = 31.96%

Master’s  =  8%

PhD = 1.77%

Professional = 1.5%

Some college w/o degree 58.57 –  53.16  = 5.4%

With 264 million working age adults, We have a Supply of people with these educational attainments:

High School Dropouts                    11.69% = 30.8616  Million

High School graduates/GED         88.31%  =  231.384  “

Some college w/o a degree           5.41% =  14.2824     “

Associate’s degree                        9.93% =  26.2152     “

Bachelor’s degree                         31.96% =  84.3744   “

Master’s degree                                8% =  21.12          “

PhD’s                                            1.77% = 4.6728        “

Professional degree                        1.5% =  3.96          “ (No need given for professional degrees)

The results are as follows:

For less than a high school diploma:

We need: 39.15 million

We have: 30.8616 million

Delta = – 8.1884 Million

 

High school

We have: 231.384 million

We need:  56.55 million

Delta = + 174.834   million

 

Some college but no degree

We have = 14.2824 million

We need = 10.15 million

Delta =  +4.1324 million

 

Associate’s Degree

We have: 26.2152  million

We need:    5.8       million

Delta = +20.4152   million

 

Bachelor’s degree

We have: 84.3744  million

We need:   26.1     million

Delta = +58.2744   million

 

Master’s degrees

We have: 21.12  million

We need:    2.9   million

Delta = +18.22   million

 

PhD degrees

We have: 4.6728  million

We need:  4.35    million

Delta = +0.3228   million

So, I have shown that the number of jobs needed are lacking. We have too many people at each educational level, except high school dropouts.

Even if we assume that 105.85 million high school graduates are needed based on jobs for high school graduates and those that will require more schooling. We have a supply of 231.384 million or more than double the demand.

So, why do big business and government push more and more and even more college on us?

One possible answer is they want it that way for them to increase their profits.

When the supply outstrips the demand, this will result in depressed wages for all of those that do get jobs. This means that the rich get richer and the poor get poorer and middle class is squeezed and shrinks even more.

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: