… and it’s upsetting to university administrators.
The Potential Dark Side of a White-Hot Labor Market
https://www.nytimes.com/2022/06/06/business/economy/the-pote…
Shanna Jackson, the president of Nashville State Community College, is struggling with a dilemma that reads like good news: Her students are taking jobs from employers who are eager to hire, and paying them good wages.
The problem is that students often drop their plans to earn a degree in order to take the attractive positions offered by these desperate employers…
Gabby Calvo, 18, left the business administration program at Nashville State this year. She said she did not know what she wanted to do with the degree, and had begun making good money, $21 an hour, as a front-end manager at a Kroger grocery store. The job was an unusual one for someone her age to land.
“They didn’t really have anyone, so they took a chance on me,” she said, explaining that nobody else stood ready to fill the position and she had worked closely with the person who held it previously.
I bet four years of Fortune 500 business management experience looks better on a resume at age 22 than a 4-year business degree from a no-name college. It’s not like a business major needs a state license to practice like a nurse or a pharmacist.
intercst
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I certainly hope this trend continues.
One Entity has been given monopolistic power on being able to grant keys to upward mobility - - and in the process, they can continue to fatten themselves and raise prices each year.
Big HMOs are famous for it.
Universities - certainly love their status also.
Fast forward just a few years: A slight DECREASE in graduating High Schoolers will show itself on account of less births during the 2008 economic crisis.
Hopefully colleges will have to discount tuitions - - and maybe cut faculty expenses when that time comes.
Though they’ll still be fat and happy.
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I bet four years of Fortune 500 business management experience
It’s a stretch to call being a shift supervisor in retail “management”. Over the years, RS was sued repeatedly by store “managers” for OT pay. The company said they were “management”, thus exempt. The store managers replied they were not management because they didn’t have authority over anything, not store hours, or hiring and firing, or inventory. College graduates were rare enough among RS managers that the company would fly the college grads down to Fort Worth for extra grooming.
In a labor market with plenty of slack, personnel managers step up their “required qualifications” to shorten the list of candidates. It a tight labor market, personnel managers relax qualifications to obtain more acceptable candidates. Remember when the Iraq war was going full blast, the army didn’t have enough recruits, so started accepting people without a High School diploma and with a criminal record?
April 17, 2008
Army Documents Show Lower Recruiting Standards
The Army is meeting its recruiting goals partly by accepting more enlistees who lack high school diplomas, who have low scores on the military’s aptitude test or receive waivers for criminal and medical problems.
https://www.npr.org/templates/story/story.php?storyId=897021…
If Shinyland gets back to a slack labor market, we will see the return of college degree requirements to be a “manager trainee” at Mickey D’s.
Steve