Last month, the U.S. Bureau of Labor Statistics released its projections of the labor force needs looking into the U.S. economy from now until 2024.
Federal Reserve Bank of Atlanta research economist and senior policy adviser Julie Hotchkiss writes that worker demand will be based on growth in the overall economy, dynamics of economic growth, and labor force demographics. The BLS report also provides the skills that are needed for entry-level positions, such as educational and on-the-job training. The basic entry-level position requires a high school degree or less in about 64% of all jobs in the U.S.
Even though the share of jobs in the U.S. economy requiring less than a college degree at entry is getting smaller (very slowly), the largest number of jobs in the economy is, by far, jobs requiring less than a college degree at entry, and those jobs offer a wide range of options that pay above the national median wage.