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Good Jobs Are Back: College Graduates Are First in Line

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The growth of U.S. jobs and wages during the recovery is analyzed in Good Jobs Are Back: College Graduates Are First in Line. The findings show that since 2010, the economy has produced 6.6 million employment opportunities. Out of these career opportunities, 2.9 million are considered good jobs. The key finding revealed that 2.8 million good jobs went to college graduates. Some of the largest growing professions seek high-skilled workers and offer large benefits packages. Most good jobs are full time and twice as likely to provide health insurance and retirement plans.

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Good Jobs Are Back: College Graduates Are First in Line

  1. 1. Good Jobs Are Back: College Graduates Are First in Line Anthony P. Carnevale, Tamara Jayasundera and Artem Gulish August 17, 2015
  2. 2. Overview •  Despite stories in the media about low-wage jobs dominating the recovery, our report finds good jobs have grown the most in the recovery •  Most of the good jobs are full-time and provide health insurance and retirement plans •  A majority of the good jobs created have gone to college graduates
  3. 3. What is a Good Job? Jobs that: •  Offer more than $53,000 annual earnings •  Are full-time •  Provide employer-provided health insurance •  Provide employer-sponsored retirement plans
  4. 4. Of the 6.6 million jobs created, 2.9 million were good jobs Good Jobs (more than $53,000)* Middle-wage jobs ($32,000-$53,000)* Low-wage jobs (less than 32,000)* 3M 2M 1M 2.9M jobs 1.9M jobs 1.8M jobs
  5. 5. Middle-wage and low-wage jobs have recovered at a slower rate •  Middle-wage jobs have not fully recovered from the recession –  They remain 900,000 below their pre-recession employment levels •  Low-wage jobs have recovered from all recession job losses –  However, they are still growing at a slower rate than good jobs
  6. 6. Full-time jobs make up the majority of good jobs •  Eighty-six percent of good jobs are full-time •  Eighty percent of middle-wage jobs are full-time •  Sixty-two percent of low-wage jobs are full-time –  Low-wage jobs are now more likely to be part-time than they were in the Great Recession  
  7. 7. The majority of good jobs include benefits health insurance and employer-sponsored retirement plan as workers in low-wage jobs. Health Insurance 68% 54% 33% 61% 46% 25% Retirement Plan Source: Georgetown University Center on Education and the Workforce analysis of Current Population Survey (CPS) data, 2008. Share of workers Good jobs Middle-wage jobs Low-wage jobs
  8. 8. College graduates landed the majority of good jobs 3M3M 000 Employment change in good jobs, 2010-2014 152K Some College/AABA or higher 2.8M High school diploma or less -39,000 Source: Georgetown University Center on Education and the Workforce analysis of Current Population Survey (CPS) data 2010-2014.
  9. 9. Managerial and professional office professions account for the most growth among good jobs Source: Georgetown University Center on Education and the Workforce analysis of Current Population Survey (CPS) , data, 2010-2014. 2M2M 000 Employment change in high-wage occupations, 2010-2014 Managerial and Healthcare professional and technical Community services and the arts EducationBlue collarSTEM Sales and support 881,000 445,000 13,000 124,000 4,000 1,781,000 -184,000-71,000 Food and personal services -200K
  10. 10. Conclusion •  Obtaining a college degree is the best option to finding a good job.The more education you have, the better your chances to land a full-time job that provides benefits and a competitive salary.
  11. 11. For more information: See the full report at cew.georgetown.edu/goodjobsareback Email Us | cewgeorgetown@georgetown.edu Follow Us on Twitter | @CntrEdWrkfrce Find us on Facebook | Facebook.com/GeorgetownCEW

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