A worker shortage is driving companies to eliminate college degree requirements for various positions.
According to Fox News, IBM, Bank of America, Google, and Walmart are dropping college education requirements from multiple job listings to encourage people to apply.
State governments have been reducing college degree requirements for a variety of vacant positions. Fox News reported Virginia became the 13th state to do so in recent years.
This move is due to the ongoing worker shortage, which is affecting industries across the nation. The U.S. Chamber of Commerce noted education, health, manufacturing, retail, and service jobs are all experiencing high levels of vacant positions.
It also stated that giving every unemployed individual a job in certain fields would only fill around 75% of the positions which remain open.
In 2022, CBS News reported that early retirement was fueling the worker shortage with more aged employees leaving the workforce.
This alone is not the only factor contributing to the issue, but the U.S. birth rate has been “flatlining” for years, per Forbes. Without enough people to replace those who are retiring employers are having to change how they hire to draw more interest.
In addition, college debt and the state of U.S. higher education have also been called into question.
Bloomberg reported that the majority of college graduates do not find jobs in their field of study and that one-fourth of them make less than $35,000 a year.
The North Texas Daily noted many degree programs require students to pay for and pass classes that have nothing to do with their intended field.
Also, EdSmart and various other outlets have produced lists of the most useless degree programs. From anthropology to art history, various degree programs offer few real-world career prospects.
Add in the fact that college tuition has gone up 180% since 1980, per Forbes, and higher education is becoming too expensive for average Americans.
College enrollment is on the decline due to all of these concerns, via Best Colleges and was hit by the pandemic lockdowns in 2020.
NPR noted that trade program enrollment is up despite the downtick in college attendance — and businesses are taking note.
Tesla CEO Elon Musk noted in 2020 that his workers don’t need a college degree, Business Insider reported.
The Guardian reported that he stated at the Satellite 2020 conference in Washington, D.C., “College is basically for fun and to prove that you can do your chores, but they’re not for learning.”