EPI's weekly illustration of education data trends — August 13, 2014
Exhibit 1. Percentage distribution of new hires, June 2014.
Exhibit 2. Net percentage change in new hires, June 2013 to June 2014.
In July 2014, EPIGraph looked at projections of occupations by education level. This week we take a different look via the new jobs report from the Bureau of Labor Statistics. The pie chart above illustrates the distribution of new hires in June 2014. While we are not able to review these data specifically by education level, we can certainly make inferences by proxy. We can assume, for example, that most of the people in professional and business services have some higher education, and similarly in education and health services and government. But there are caveats. For instance, in the education and health services area, almost all the hires were in the "health care and social assistance category (91 percent), requiring less than a two-year degree in many respects and not really requiring much education for "assistance" work. In trade, transportation, and utilities, 68 percent of new hires were "retail trades," requiring no discernable higher education degree or training.
The second chart provides the percentage change from June 2013 to June 2014 in the number of hires. A good sign for the economy, the number of new hires is 11 percent higher this June than last June, with large percent increases in the trade (30 percent), education and health services (14 percent), and manufacturing (11 percent). Construction, conversely, is 19 percent down.
These data are worthwhile to consider with regard to the policies impacting the types of higher education we need for the future. Given the data illustrated in our July 15th edition of EPIGraph, there needs to be much more consideration of short-term training for the types of jobs that continue to dominate occupational projections in the United States.
SOURCE: Bureau of Labor Statistics, Economic News Release, August 12, 2014 (http://www.bls.gov/news.release/jolts.a.htm#jolts_tablea.f.4).