Higher Education Losing its Value? Or Too Many Scientists? | Can ...

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First, the big picture. Here is the entire market for Ph.D.'s, including those graduating from humanities, science, education, and other programs. The blue line tracks students who have a job waiting for them after graduation. The green line tracks those signed up for a post-doctorate study program. The red line stands for the jobless (though a sliver of them are heading to another academic program).

The pattern reaching back to 2001 is clear -- fewer jobs, more unemployment, and more post-doc work -- especially in the sciences. A post doc essentially translates into toiling as a low-paid lab hand (emphasis on low-paid). Once it was just a one or two year rite of passage where budding scientists honed their research skills. Now it can stretch on for half a decade .

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As the article makes clear, the charts aren't perfect and there are a lot of assumptions that went into the chart. Nevertheless, if we assume it paints a picture somewhat close to reality, it illustrates a potentially new trend.

The described situation?PhDs not getting jobs?is kind of sad for those pursuing higher education. Once upon a time, only some soft areas like humanities and arts graduates had difficulties finding jobs but now it looks like science and engineering is facing the same problem.
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It's not clear to me if employers are starting to discount higher education (possibly due to too many degree-holders, who are?not as skilled as several decades ago)... or if it is due to a skills mismatch (America graduating too many scientists). Leave your thoughts.

Tags: education

Source: http://can-turtles-fly.blogspot.com/2013/02/higher-education-losing-its-value-or.html

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