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District Digest: Preparing to Work: The Demand for Postsecondary Education and How It's Changing

Author

Listed:
  • Stephanie Norris
  • Laura Dawson Ullrich
  • Sonya Ravindranath Waddell

Abstract

Starting around a decade before the COVID-19 pandemic, and more acutely during the pandemic itself, postsecondary enrollment declined — most notably among community colleges, both in the Fifth District and in the United States as a whole. Yet the 2023-2024 academic year saw a shift in that trend as enrollment grew once again. What's going on? The unsatisfying answer is that there are conflicting forces at work, and it's hard to tell which will prevail. But one thing is clear: Combined with the anticipated decline in the college-age population, high costs of four-year degrees, and changing demands among employers, parents, and students, higher education seems to be at a crossroads. Now might be the time to rethink the human capital needs of America's future workforce and the programming required to meet them.

Suggested Citation

  • Stephanie Norris & Laura Dawson Ullrich & Sonya Ravindranath Waddell, 2024. "District Digest: Preparing to Work: The Demand for Postsecondary Education and How It's Changing," Econ Focus, Federal Reserve Bank of Richmond, vol. 24(3Q), pages 27-31, August.
    • Handle: RePEc:fip:fedrrf:98614
    as

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    File URL: https://www.richmondfed.org/-/media/RichmondFedOrg/publications/research/econ_focus/2024/q3/district_digest.pdf
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