Please do not leave this page until complete. This can take a few moments.
The workforce in the state could soon see a crunch in college-educated employees, as the number of Massachusetts residents getting a college degree is set to go from growth to decline by 2022, the Massachusetts Department of Higher Education reported Wednesday.
The Degree Gap report released by the organization found that employers who are already having difficulty meeting current workforce needs in high-demand fields will face even greater challenges in the next few years, as the state’s high school population continues to decline at the same time as an estimated 660,000 college-educated workers plan to retire. The demographic challenges facing the state mean that public colleges and universities are likely to fall short of meeting the need for new associate and bachelor’s degrees by 55,000 to 65,000, according to the report, with 80 percent of those missing degrees at the bachelor’s or higher level.
“Studies have shown that the vast majority of Massachusetts job openings in the next decade will require a degree or certificate beyond high school, and our administration is working hard to expand training and educational opportunities,” Secretary of Education Jim Peyser said in a statement. “The higher education system is a critical partner in helping our students and workers meet the needs of our changing economy, and we are focusing on ensuring they are prepared to succeed in college and in their careers.”
The report’s findings align with several recent economic forecasts that project that a lack of available talent may constrain economic growth. Although the Commonwealth has more adult degree-holders than any other state -- 51.5 percent of adults ages 25 to 54 -- the state is projected to end the decade with fewer working age college-educated residents than it began with, unless the rate of degree production improves.
Local colleges have undertaken efforts to streamline the process of getting a degree, with Mount Wachusett Community College and others launching dual degree programs allowing high school students to graduate with an associate’s degree at the same time they receive their high school diploma.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments