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Big Government 101: Federal Subsidies Create Glut Of College Grads
Investor's Business Daily ^ | 01/28/2013 | IBD Staff

Posted on 01/29/2013 6:02:23 AM PST by IBD editorial writer

Higher Education: A new study finds almost half of Americans with college degrees are working at jobs that don't require one. It's the latest example of how federal subsidies are creating a massive higher-education bubble.

The study, by the Center for College Affordability and Productivity, found that an incredible 48% of college graduates — about 13 million of them — hold jobs that don't require a bachelor's degree. About 5 million have jobs that don't even require a high school diploma.

There are, for example, roughly a million sales clerks, 300,000 waiters and 100,000 janitors with college degrees.

This mismatch is up sharply from four decades ago, the study found...

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: college; jobs; subsidies

1 posted on 01/29/2013 6:02:27 AM PST by IBD editorial writer
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To: IBD editorial writer
"The study, by the Center for College Affordability and Productivity, found that an incredible 48% of college graduates — about 13 million of them — hold jobs that don't require a bachelor's degree. About 5 million have jobs that don't even require a high school diploma. "

OK -- but how many of those Starbucks Baristas have degrees in Chemical Engineering, and how many have degrees in Art History? Not all college degrees are the same. Maybe 1/3 of college grads earn degrees in "hard" science and engineering. Nothing wrong with a degree in Music, but if the goal is to find a job, it won't teach any marketable skills.

2 posted on 01/29/2013 6:11:05 AM PST by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: IBD editorial writer

My youngest has a BD and a job that doesn’t require one.

She’s actually going back to school to get qualified for the job she has.


3 posted on 01/29/2013 6:12:25 AM PST by WCH
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To: Sooth2222
"OK -- but how many of those Starbucks Baristas have degrees in Chemical Engineering, and how many have degrees in Art History?"

Roger that. At least half of the offerings on any major campus are non-academic pseudo-disiplines with no utililty in the real world. The are manufactured solely to sell diplomas. This will continue as long as the government is willing to pay for this type of edu-vacation.

4 posted on 01/29/2013 6:27:56 AM PST by circlecity
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To: circlecity

Veblen figured this out 100 years ago when he wrote that the whole point of a degree in Art History was to signal that you were so rich you never needed to know anything “useful”. No one was ever supposed to get these things expecting to earn a living with them! (bummer for the baristas)


5 posted on 01/29/2013 6:42:26 AM PST by babble-on
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To: IBD editorial writer

Whatever you subsidize you get more of.
Whatever you tax, you get less of.

So we subsidize poverty and tax wealth..........


6 posted on 01/29/2013 6:42:56 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: IBD editorial writer

...which in turn creates a constituency for Bigger Government to create Big Government Jobs Programs.

So you see, it all kind of works for them.


7 posted on 01/29/2013 6:43:38 AM PST by Buckeye McFrog
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To: IBD editorial writer
Too bad companies can't decide on their own selection criteria for new hires; they have to use the Federal standard.

Thus, we end up with Big Academia.

8 posted on 01/29/2013 6:51:37 AM PST by Trailerpark Badass (So?)
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To: IBD editorial writer

There used to be a notion that higher learning was for personal enrichment. Not all who attend look at it as a trade school.


9 posted on 01/29/2013 6:53:29 AM PST by GingisK
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To: IBD editorial writer

There used to be a notion that higher learning was for personal enrichment. Not all who attend look at it as a trade school.


10 posted on 01/29/2013 6:53:36 AM PST by GingisK
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To: Trailerpark Badass
Too bad companies can't decide on their own selection criteria for new hires; they have to use the Federal standard.

Can you expand on this? I'd like to know what the exact mechanism is. I don't believe that most people take college degrees seriously, outside of some difficult disciplines.

11 posted on 01/29/2013 6:56:41 AM PST by St_Thomas_Aquinas
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To: Sooth2222
"Maybe 1/3 of college grads earn degrees in "hard" science and engineering. Nothing wrong with a degree in Music, but if the goal is to find a job, it won't teach any marketable skills."

Get degree in engineering and MINOR in music (or whatever non-saleable interest you happen to have).

A guy I worked with for years had a masters in chemistry and minored in English, and a "hobby" interest in law. He wasn't a very good chemist, and was low on promotions and raised.

Then he found a nich in the company patent office....... He turned out to be one of the best patent agents the company ever had.

He is now retired and is an independent patent agent and still loving it. His track record of patents accepted by the exminers is far higher than most patent agents.

12 posted on 01/29/2013 7:08:51 AM PST by Wonder Warthog
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To: Sooth2222

Don’t worry. Corporate HR pukes will engineer a “need” for a degree in all these other jobs.


13 posted on 01/29/2013 7:19:18 AM PST by steve8714 (We miss you, Stan.)
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To: St_Thomas_Aquinas

My child has started second semester, junior year of a double major: Molecular Biology and Applied Statistics. Most other students give her grief over not partying every weekend and instead choosing to study. She tells them she will party later when she is enjoying her six figure income.

So , how many parents reading this raised one of these partying college students who live to bully the few responsible students. I guess they figure they can just keep electing Obamas who will wage war against those who work hard to give to those who have not earned it.


14 posted on 01/29/2013 7:20:59 AM PST by anonsquared
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To: IBD editorial writer

We need to go back to vocational HSs. When I was in HS, our HS had some vocational studies and those who attended those went right out into jobs. I went to NYC to go to nursing school (from IN) and saw that NYC schools offered students a course in Practical nursing so that the student graduated and took their exams to become a Licensed practical nurse, allowing one to start working and get some experience in nursing while going on to obtain your RN training. What a great idea. Not only that, but it gave one some experience in the field at a young age, rather than going through 5 years of schooling and getting out to find that nursing might not be what you were cut out for. Over the 43 years I’ve been a nurse, I’ve seen plenty that were not really cut out to be nurses, but after spending the money they stick it out and move into non-patient related nursing fields.

Vocational schools would at least give students a skilled job to enter the work force with, even if you did decide to do something else later. One could easily work one’s self through school, not depending on huge student loans to carry you through.

Back in the 80s there was talk of no longer needing skilled workers, but I have yet to figure out how they will get robots to fix your plumbing needs, electrical problems, infrastructure building, etc. There is a huge need for skilled worker jobs. Our plumber is probably 15 years younger than us and COULD afford to retire, should he so choose...on a MUCH better retirement package than we are living on. But young people are not encouraged into these kinds of jobs. Parents want their kids to be doctors or engineers, etc.


15 posted on 01/29/2013 7:27:56 AM PST by Shery (in APO Land)
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To: IBD editorial writer

If Republicans truly want to win back the youth vote, they will need to seize this issue.


16 posted on 01/29/2013 7:37:26 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: St_Thomas_Aquinas
Well, I'm pretty sure most industries are prevented by law (or threat of it) from administering pre-employment tests of any kind.

Thus, a company has to use the de facto standard of a college degree.

I also think this has led to the ending of many training/apprentice programs, because they aren't willing to invest the resources on people they know very little about.

17 posted on 01/29/2013 7:47:15 AM PST by Trailerpark Badass (So?)
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To: Trailerpark Badass; St_Thomas_Aquinas

And to add, I don’t think many degrees matter to companies other than as a minimum indicator of at least some ability and/or perseverance.


18 posted on 01/29/2013 7:50:23 AM PST by Trailerpark Badass (So?)
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To: Qbert

“If Republicans truly want to win back the youth vote, they will need to seize this issue.”

You hit on THE gem! At this time, the Repubs are falling all over themselves to adapt to “new demographics” and to annoy conservatives. They are missing a large demographic, young people, who are stressed by a lack of good jobs and who, if only shown how the Repubs can open up economic opportunity, would represent a long-term base of support. Instead, the Repubs are catering to Dem voters—a destructive strategy.


19 posted on 01/29/2013 7:55:32 AM PST by iacovatx (Conservatism is the political center--it is not "right" of center)
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To: anonsquared

My 17 year old will be entering college in September. He has been working for almost 3 years to get into a business program. He created his own businesses and earns enough in his other jobs to pay for school with cash.

He contacted the school, set up interviews with department heads, did Skype sessions, has recommendations out the wazoo from business professionals who he spoke with over the years and gave them his 5 year plan to graduate with a masters in business. As an afterthought, he sent his grades and SAT scores.

Last night the school called. He was accepted to their honors program where he will have his masters in 4 years. They also will be giving him a nice scholarship.

This is what sold the school. A few years ago my son was in sports camp. As the coaches went around the group and asked the students what they wanted to do, each said he wanted to be a professional athlete. When the coach asked my son, my son looked around the room and said, “I want to sign their paychecks.”


20 posted on 01/29/2013 7:56:56 AM PST by EQAndyBuzz (I own a weapon to protect my family from those wanting to take that weapon away.)
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To: Trailerpark Badass
Well, I'm pretty sure most industries are prevented by law (or threat of it) from administering pre-employment tests of any kind.

What's the rationale? Is it racist? Sexist?

21 posted on 01/29/2013 8:57:16 AM PST by St_Thomas_Aquinas
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To: anonsquared
Most other students give her grief over not partying every weekend and instead choosing to study.

Her tormentors think they have the game figured out. They're going to party and get a piece of paper. They'll play those employers for fools. But they're in for a rude awakening. They'll spend the rest of their 20's trying to figure out what the hell happened --if they're lucky. If they're afraid to face the painful truth, they'll be in for a lifetime of bitterness.

Sad, really. They aren't fully responsible, since they've been told lies about college throughout government schooling. "A college degree will guarantee you a good job." It's the carrot that teachers use as a crutch to get through a typical day of babysitting the college-bound.

Our society piles lie upon lie. Someday soon, the house of lies will come crashing down.

22 posted on 01/29/2013 9:06:53 AM PST by St_Thomas_Aquinas
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To: IBD editorial writer

Most of whom are somewhat less educated than the high school graduates of 40 years ago...


23 posted on 01/29/2013 9:25:15 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: St_Thomas_Aquinas
IQ and aptitude tests as condition of employment have been ruled to be racist.

Any pre-employment testing must be specifically designed to measure the candidate's ability to do a certain job. Tests to determine general ability, intelligence, creativity, potential, etc. are legally problematic and would likely earn the company an EEOC lawsuit.

With the ADA, the brier patch got even stickier.

24 posted on 01/29/2013 9:26:44 AM PST by Trailerpark Badass (So?)
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To: IBD editorial writer

In large cities 25% of taxi drivers have a bachelor’s degree.
Remember when NASA people could only find a job pumpimg gas.
Obam’s change has arrived.


25 posted on 01/29/2013 10:58:55 AM PST by Vaduz
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To: IBD editorial writer
Glut Of College Grads

Incontheivable!!!!

<.picture from Princess Bride.>

Everyone knows College grads are the salt of the earth.

26 posted on 01/29/2013 11:05:17 AM PST by DungeonMaster (Fix voter fraud or count me out.)
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