Jan. 10, 2023 | Kelly L. Faloon
When it comes to preparing for their work future, today’s young people have some difficult decisions ahead of them: what they want to do in their work life, where to obtain the knowledge and training, how to pay for their education, and what the job prospects will be when they complete their schooling.
For anyone desiring a college degree, the price can be daunting in any field.
“The cognitive competencies that are in high demand in the workforce are generally associated with higher levels of education,” notes a report from the Georgetown University Center on Education and the Workforce (CEW). “Today, two out of three jobs require postsecondary education and training, while three out of four jobs in the 1970s required a high school diploma or less. Yet while young people today need more education than ever to compete in the labor market, a college education is more expensive than in the past.”
The 2021 report, “If Not Now, When? The Urgent Need for an All-One-System Approach to Youth Policy,” illustrates that between 1980 and 2020, college costs rose 169%. …
The Skilled Labor Dilemma
So how can young people obtain a secondary education that will provide them with a good standard of living but not cripple them in debt?
Whether you call it trade school, vocational school or career and technical education (CTE), these learning institutions can teach young people the skills and training they need to enter a career with financial stability, such as plumbing, HVACR or electrical. These jobs are fairly recession-proof and cannot be outsourced overseas.
The market size of U.S. trade and technical schools is $15.1 billion in 2022, notes an IBIS World market report. And a Bloomberg article notes that more young people are entering apprenticeship programs in many industries.
“U.S. companies are increasingly tapping high school students for skilled jobs,” the August 2022 article notes. “As a result, apprenticeships are seeing a renaissance after failing to gain a foothold over the past few decades. About 214,000 people aged 16 to 24 were in apprenticeships in 2022, more than double the amount a decade ago, according to July data from the U.S. Department of Labor.”
Bloomberg adds that it’s “part of a national rethink by employers scrambling to fill about 10.7 million vacancies by developing their own talent pipelines.”
Regarding trade careers in construction, plumbing and HVACR are some of the highest-paying trades today. Candidates can obtain a two-year associate’s degree or certification, but many go directly into four- or five-year apprenticeship programs.