Cincinnati has plenty of jobs paying a living wage without a college degree contrary to what was reported in, “No degree? Just 1 job has a living wage for you.” In the report prepared by multiple branches of the Federal Reserve Bank, “Identifying Opportunity Occupations in the Nation’s Largest Metropolitan Economies,” an opportunity occupation is defined as a job that pays at least the national annual median wage, adjusted for differences in local consumption prices, and does not require a bachelor’s degree. The national, unadjusted, median wage is $35,540. This roughly translates into a fulltime job paying $18 per hour.
Examples of jobs fitting this criteria includes: policeman, fireman, nurse, plumber, electrician, mechanic, welder, heavy equipment operator, a vast array of technicians, etc. These types of jobs comprise 31% of jobs in the Cincinnati metropolitan area, and employers are finding it hard to fill them. The issue is a lack of potential candidates, not a lack of opportunity occupations. What has caused this problem?
Every year about four million young people reach age eighteen nationally. At this critical juncture of their life most of them make a bad decision. Twenty-five percent have dropped out of high school—a choice that leads to a financial dead end. About twenty-two percent decide they don’t need any type of credential and forgo post-secondary education. While there are exceptions, for example joining the military or entrepreneurship, many of these young people will have trouble becoming financially independent. Thirty-one percent, urged on by parents and educators, blithefully enroll in a traditional four year college. The mantra, “college is for everyone regardless of cost,” is accepted as fact by many. However Department of Labor statistics belie that “fact”. Only one in four will graduate and get a good job. (There is a vast supply and demand problem. About 1.8 million bachelor’s degree are conferred each year. There are nowhere near that number of suitable jobs available. There is also a mismatch between skills gained in school and skills required in the job market. Fifty years ago a major in French literature could exit the ivied halls with diploma in hand and land a cushy entry level job at P&G. It doesn’t work that way anymore.)
While doing volunteer work in a suburban school that sends sixty-five percent of their students to college, I shared that knowledge with the principal. His response was, “we certainly don’t want our students to know that.”
The remainder of those turning eighteen enroll in community college. If they choose the proper credentials and perform academically they stand a very good chance of earning a living wage.
We need to send more kids to community college.