Summary
In an increasingly competitive world, the best advice for jobseekers is to develop new skills. Education is a good way to develop skills -- and it may lead to better employment prospects and higher earnings. But opportunities for secure, lucrative careers also exist for workers who prefer to acquire skills on the job. This article uses data from the US Bureau of Labor Statistics (BLS) and the US Census Bureau to analyze how workers' education or training relates to their job prospects and earnings. The information is useful for learning about occupations and possible career options at various education levels. The first section of the article explains the methodology used. The second section looks at data and trends relating to the educational attainment of workers. BLS projects opportunities for new workers from two sources: new openings resulting from growth, and openings resulting from workers who leave an occupation and need to be replaced.
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Extract
Job Outlook by Education, 2006-16
What will you need to succeed in the job market of tomorrow? In an increasingly competitive world, the best advice for jobseekers is to develop new skills.
Education is a good way to develop skills-and it may lead to better employment prospects and higher earnings. But opportunities for secure, lucrative careers also exist for workers who prefer to acquire skills on the job. This article uses data from the U.S. Bureau of Labor Statistics (BLS) and the U.S. Census Bureau to analyze how workers' education or training relates to their job prospects and earnings. The information is useful for learning about occupations and possible career options at various education levels.The first section of the article explains the methodology used. The second section looks at data and trends relating to the educational attainment of workers. The next sections analyze selected occupations grouped into categories that are based on the typical educational attainment of the workers in them: bachelor's or higher degree; a mix of levels; and high school diploma or less. The end of the article suggests additional sources of information.Methods usedWage data in this article come from the BLS Occupational Employment Statistics (OES) survey, and the earnings premium and educational attainment data are from the Census Bureau's American Community Survey (ACS). Analyses of job openings use data from the BLS Employment Projections program.Wage data and earnings premiumsMedian annual wages from the OES survey represent gross pay for wage and salary workers in the U.S. economy. For occupations with median annual wages of more than $145,600, a specific wage figure is not given because the OES survey does not publish wage data above this amount. In these cases, the tables show that median wages were greater than or equal ...See the full content of this document
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