The risks of a mismatch between costly university degrees and job opportunities have become clearer in recent years. Anthony Carnevale, director of the Center on Education and the Workforce at Georgetown University, said nearly a third of people aged 22 through 26 with a Bachelor of Arts degree either don’t have a job or are working at one that doesn’t require a university degree. The numbers are similar for young people with vocational degrees, but those lower-cost degrees don’t typically lead to heavy debts...
But the picture is much more complicated, and volatile:
Demand for welders has been strong in Texas for the past few years, largely because of booming energy-related industries. Some of that demand is expected to decline in the near-term as lower oil prices reduce exploration. Meanwhile, the number of qualified welders should rise. Schools in the Texas State Technical College network had 732 students enrolled in welding programs in the fall 2014 semester, up about 70% from three years earlier. For now, the college says most of its welding students secure jobs before they graduate.
The U.S. Bureau of Labor Statistics estimates there will be 378,200 U.S. jobs for welders in 2022, up just 6% from the 2012 level. That falls below the projected 11% growth for all types of jobs. Many welding jobs in the auto industry have been eliminated over the years by robots. But welders with advanced skills and experience can do very well, as Mr. Friend has found.