89 - The 1:2:7 Job Ratio in Our Economy
Episode Title: The 1:2:7 Job Ratio in Our Economy
Did you know that only one out of ten jobs requires a master’s degree? And of the other nine, only two require a four-year degree? This ratio can change the way we talk about career exploration—coming up next.
Ep 89 show:
Hello, you’re in The Perna Syndicate—welcome! Have you ever heard of the 1:2:7 ratio of jobs in our economy? In his viral video entitled “Success in the New Economy,” my colleague Kevin Fleming describes this ratio. He says,
For every occupation that requires a master’s degree or more, two professional jobs require a university degree, and there are over half a dozen jobs requiring a one-year certificate or two-year degree; and each of these technicians are in very high-skilled areas that are in great demand.
This ratio is fundamental to all industries. It was the same in 1950, the same in 1990, and will be the same in 2030…The whole pie may get bigger as the labor force and the economy grows, but the ratio will not change. The reality is there will not be more professional jobs available within the labor market. And some professional jobs have been replaced by technology, or are being outsourced. [end quote]
The 1:2:7 ratio has major implications for how we prepare the next generation for the world of work. If we push every student toward college, what happens when they emerge, burdened with debt, and there just aren’t enough jobs that require a degree? We’re already seeing this play out, and it’s not pretty.
It’s crucial for students and their parents to become smarter consumers of education. The 1:2:7 ratio is a simple tool to educate our communities on the career training that makes sense for young people. If we don’t shift the paradigm, the skills gap will only grow and our college-educated students will find themselves significantly underemployed. We can do better.
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