Report: Recovery 2020 - Job Growth and Education Requirements through 2020
The Georgetown University Center on Education and the Workforce, a division of the McCourt School of Public Policy, released a report entitled Recovery: Job Growth and Education Requirements through 2020.
The report looks forward to the year 2020 and predicts the state of the American economy. Recovery 2020 provides vital labor market information such as which fields are expected to create the most jobs, the education requirements required to gain employment in the U.S., and the skills most coveted by employers.
Recovery 2020 finds that:
- There will be 55 million job openings in the economy through 2020: 24 million openings from newly created jobs and 31 million openings due to baby boom retirements.
- By educational attainment: 35 percent of the job openings will require at least a bachelor’s degree, 30 percent of the job openings will require some college or an associate’s degree and 36 percent of the job openings will not require education beyond high school.
- STEM, Healthcare Professions, Healthcare Support, and Community Services will be the fastest growing occupations, but also will require high levels of post-secondary education.
- Most jobs will require some type of post-secondary education, and individuals that only possess a high school diploma will have fewer employment options.
- Employers will seek cognitive skills such as communication and analytics from job applicants rather than physical skills traditionally associated with manufacturing.
- The United States will fall short by 5 million workers with postsecondary education – at the current production rate – by 2020.
The full report is available online.