A College Degree Is Rapidly Becoming The Price Of Entry In the Job Market
Bernie Sanders says that a college degree has become what a high-school diploma was in the middle of the 20th century. He isn’t far off. In the 1970s, about a third of American adults (ages 25-64) had less than a high school diploma; another third had a diploma and no more; and the remainder had at least a few college credits. Only about 6 percent had a bachelor’s degree or more. (All data is from the Current Population Survey, via IPUMS.)
Today, just 10 percent of Americans have less than a diploma, and a third have a bachelor’s degree. Well over half of American adults have at least a few college credits. And although some question the value of a college degree, it still carries clear advantages in the labor force. Americans 25 and up with a bachelor’s degree have an unemployment rate of 2.5 percent, versus 7.9 percent for those with less than a high school diploma.