Why it matters: The article highlights the issue of an oversupply of college graduates in America who are unable to find suitable employment due to factors like computerization and the reluctance of established industries to adopt alternative modes of development.
What they are saying: The article states that there are currently around 140,000 college graduates in America who are unable to find work that matches their level of education. It attributes this situation to the increase in the number of highly trained and educated individuals produced by American colleges in the ’60s and ’70s. However, the local job market has not kept pace with this increase due to the impact of computerization and the hesitation of established industries to explore alternative development methods like solar power and geothermal energy. The article also suggests that by 1985, the number of overqualified college graduates will reach 700,000, creating intense competition for the limited specialized brain jobs that still exist.
The big picture: The article implies that the education system has not adapted to the changing demands of the job market and the advancements in technology. It suggests that colleges need to make students aware of the oversupply of graduates and the need to lower their educational goals to align with the available job opportunities. The reluctance of established industries to embrace new technologies is seen as a barrier to creating more specialized jobs that can accommodate the increasing number of highly educated individuals.
What to watch: It is important to monitor how the oversupply of college graduates and the lack of suitable employment opportunities evolve over time. Additionally, observing the response of the education system and industries to address this issue, such as adjusting educational goals and promoting the adoption of alternative modes of development, could provide insights into potential solutions.
My take: The article highlights a significant issue faced by many college graduates in America, specifically the lack of suitable job opportunities that match their level of education. It underscores the importance of aligning education with the demands of the job market and encouraging industries to adapt to new technologies and alternative modes of development. This issue remains relevant today, and it is crucial to find ways to bridge the gap between an oversupply of graduates and the available career opportunities.
