Are Low-Skill Workers America's Next Great Economic Resource?
While unemployment, underemployment and wage stagnation has been particularly difficult for workers without high school or college degrees, a new study indicates that there may be improved demand for this segment of employees. Employees who enter the workforce with at least a college degree or higher have more than doubled since 1989, and make up almost 36% current labor market – its largest segment. However, the labor force participation rate still remains over three percent lower than before the recession, with the decline being most noticeable amongst those who don’t have a college degree. The study notes that while educated employees have contributed to economic growth in recent decades, this growth will hit a plateau. Further growth and recovery from the recession in upcoming decades will depend on increasing labor force participation rates, with the impact highest for those who suffered the most during the recession. While it's unlikely that employment levels for this group will reach the highs seen in the late 90s, with 65% of U.S. jobs requiring a college degree, there is some optimism that this group will see job opportunities return to pre-recessionary levels.
See "Are Low-Skill Workers America's Next Great Economic Resource?", Gillian B. White, The Atlantic, August 8, 2016