đ¸The Future of Work(?)
As the pandemic continues, millions of workers are leaving their jobs en masse. This dominant narrative about the world of work, dubbed âThe Great Resignation,â has sparked a national conversation about the nature of work, the work ethic of younger generations, and the social safety net.Â
While some are choosing to leave jobs in search of flexibility that previous to the pandemic had been unattainable, others are being let go. Overwhelmingly, the workers most impacted by COVID-19 are those in jobs that donât require higher education. Compared to workers with a college degree, those without one are twice as likely to be unemployed.Â
These trends also run parallel with another growing narrative of the last two years: rising income inequality. The economy is recovering, but economists are calling it a two-track recovery. Highly skilled, educated workers are finding better, higher paying work, while low-skilled, less educated workers are struggling to find any work, let alone jobs that are safe, flexible, and pay a living wage. Â
History suggests that college degrees are more important during economic downturns. During the 2008 recession, the U.S. lost 7.2 million jobs. Eighty percent of the jobs lost did not require a college degree. And when the economy rebounded, an astonishing 95 percent required education beyond high school. Similar trends are already emerging as the COVID-19 crisis continues. According to the Center on Education and the Workforce at Georgetown University, American workers with high school diplomas are twice as likely to be unemployed than those with bachelorâs degrees.
These realities come at a time when skepticism toward higher education is at an all time high. The relentless pursuit of academic achievement combined with rocketing costs, out of control debt, and plummeting acceptance rates are causing people to increasingly question: is college worth it?
Research shows that college is worth it. But not for the reasons people think. Itâs not where you go, but what you do there that really matters. In future issues, we will unpack how to get the most out of college (no matter where you go).Â
Get Your Bearings: How has COVID impacted your career? Did your education (level) protect you from or expose you to economic disruption caused by COVID?
đŁ What To Do When Life Stinks
Although many hoped that fall of 2021 would bring a return to life as we knew it, the turbulence continues:
Our healthcare system is collapsing under the weight of COVID-19.Â
Global warming is advancing climate change emergencies all over the globe.Â
Education costs are soaring out of control and continue to do so.Â
Unchecked monopoly power of large technology companies threaten our freedom, privacy and democracy.Â
The list goes on. In sum, the world is in a sorry state.Â
While very concerning, many unmitigated crises are an opportunity for young people to start meaningful careers. Our economy is now bending to meet the needs of the worldâs most pressing problems. As crises continue unmitigated, more companies, and more opportunities are arising to solve them. For example:Â
In the New Yorker, Atul Gawande shares how Costa Rica transformed their world class healthcare system by putting public health at the center. This model will surely be adapted by the United States. Now would be an excellent time to start a career in Public Health.Â
Guild Education, an organization that partners with companies to provide free access to higher education, is now valued at nearly 4 billion dollars. NYU Professor Scott Galloway raised 30 million dollars to create a more affordable business education to rival six figure MBA programs. Now would be an excellent time to start a career focused on reducing the cost of higher education.
Run For Something has recruited over 70,000 young people to run for local political office in every single state in America. Now would be an excellent time to start a career in politics.Â
Ceres manages a network of investors overseeing 37 trillion dollars in assets that are focused on sustainable investment practices. Now would be an excellent time to start a career in sustainability.Â
Each of these crises is an opportunity for our students to find meaningful and rewarding work. Health care is a $6.2 trillion dollar market. Education will be nearly a trillion dollar market by 2025. The global environmental, social and governance market is expected to be a 53 trillion dollar market by 2025. Resources and opportunities are being funneled to meet the most critical needs on the planet.
Itâs perfectly understandable that we might feel upset, worried, or angry right now. While our instinct is to just get rid of these feelings, they may actually be telling us whatâs important to us. As the Psychologist Adam Grant noted:
Channel those strong feelings; they might lead to a meaningful and fulfilling career that helps save the world along the way.
Get Your Bearings: What problem upsets you the most? What grabs your attention? Who is working to address this problem? What are some opportunities for joining these people to do the work you care about?Â
đ´The Scenic Route
Because sometimes we need to slow down and enjoy the ride.