In certain circles, this sounds a lot like a “bubble”, and we all know that bubbles eventually pop, right?
“At the same time, college graduates filling these middle-skills positions (those that require more than a high school diploma but less than a college degree) such as supervisors, support specialists, technicians, sales representatives, data analysts, and production managers are costing companies more money to employ, tend to be less engaged in their jobs, have a higher turnover rate, and reach productivity levels only on par with high school graduates doing the same job.”
The reason I say that is because the higher pay being given out for these jobs does two things. It increases the demand, and cost, of a college education, because it inflates statistics about how much more money those with degrees make, and it costs businesses more to get the same level of productivity they were already getting. As those costs continue to rise, eventually business will adjust, but colleges won’t.
This will not end well. We’ll wind up with millions of college graduates unable to make enough money to make that expense worthwhile. Which is pretty much what we’re seeing with the student loan debacle in the US.