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ERIC Number: EJ903450
Record Type: Journal
Publication Date: 2009
Pages: 21
Abstractor: ERIC
Reference Count: 8
ISSN: ISSN-0893-0384
From Labor Shortage to Labor Surplus: The Changing Labor Market Context and Its Meaning for Higher Education
Fogg, Neeta P.; Harrington, Paul E.
Continuing Higher Education Review, v73 p11-31 Fall 2009
The authors examine how the American economy has experienced sharp contractions in overall levels of output, income, and wealth resulting from the recent financial crisis, and how these losses have had an impact on the nation's labor market. The significance of these trends to American higher education is summarized in these terms: "Large labor surpluses in the coming years will mean intense competition for jobs among recent graduates, much higher unemployment among recent graduates, a sharp increase in underemployment, and a rise in part-time enrollment in the future" as people seek new skills and credentials to compete for fewer jobs. The authors stress that colleges and universities must adjust to a new labor market environment that is different in fundamental ways by regrouping and re-organizing their resources to effectively respond to the new labor surplus context that will characterize the nation's labor markets in the next decade. (Contains 7 tables, 6 endnotes and 5 charts.)
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A