Will it be enough?
About three-quarters of jobs in Minnesota will need some education beyond high school by the end of the decade, according to the latest report from the Georgetown University Center on Education and the Workforce. In “Recovery: Job growth and education requirements through 2020,” the center projects that by 2020, 65% of US jobs will require postsecondary education beyond high school. Minnesota and Colorado tie for second behind District of Columbia with 74% of jobs requiring postsecondary.
According to the Georgetown projection, Minnesota is running slightly behind what will be needed:
- 74% will need some postsecondary education in 2020; 70% had achieved this in 2012.
- 38% will require a bachelor’s degree; 35% had this level of education in 2012.
- 36% will need some college/associate degree; 35% had achieved this in 2012.
Minnesota is close to the Georgetown estimates, but this only tells part of the story. There are about 58,000 fewer workers in the 25 to 44 age group than in the 45 to 64 age group, but a higher percentage of them (39% compared to 33%) have a bachelor’s degree.
This means that the state cannot grow complacent. As we reported previously, two concerns still exist.
- Will Minnesota maintain or increase college attainment levels for those younger than age 25 as they move into the 25-44 year cohort?
- Will keeping the same proportion of bachelor's degree-holders be enough, considering the increasing education levels in the global economy? Between 2018 and 2020, Georgetown increased the requirement for postsecondary from 70% to 74%. It’s doubtful figures will go in the other direction in the future.