Want job security in this uncertain market? A surprising trend is paying off
CNN
Going to college in the United States has long been considered the ticket to a higher-paying job. But the growing share of high school graduates who are enrolling in vocational schools instead of four-year programs may not be missing out on as much earnings potential as you might think.
Going to college in the United States has long been considered the ticket to a higher-paying job. But the growing share of high school graduates who are enrolling in vocational schools instead of four-year programs may not be missing out on as much earnings potential as you might think. From 2019 to 2024, hiring rates fell for workers in their 20s for roles that tend to require a bachelor’s degree, while hiring rates rose for roles requiring a vocational or associate’s degree, according to data from national payroll processing company ADP. And during that five-year span, enrollment in bachelor’s degree programs fell by 4%, while enrollment in vocational schools grew by 5%, according to data from the National Student Clearinghouse. “The promise of quicker entry into the workforce, lower educational costs and the ability to earn higher wages earlier in their careers are compelling reasons for this trend,” said Bart Taylor, a professor at Texas A&M University, who teaches curriculum development for career and technical education programs. That means that while the overall labor market shows signs of cooling, hiring for workers without a college education can still be a source of strength for the economy. Earnings growth rates for workers with vocational or associate’s degrees are on par with those of bachelor’s degree recipients, according to the Atlanta Federal Reserve’s Wage Growth Tracker. That said, bachelor’s degree recipients earned a median weekly salary of $1,493 last year compared to the $1,058 associate’s degree recipients earned, according to data from the Bureau of Labor Statistics. The data for associate’s degree recipients includes people who graduated from academic and vocational programs.
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