The NY Times editorial board moves in the correct direction on college, but…
So the NY Times editorial board finally notices that there are too many college graduates and not enough jobs.
[T]he economy does not produce enough jobs that require college degrees. Private-sector white-collar jobs can increasingly be moved offshore and automated, while public-sector jobs that require degrees, notably teaching, have been decimated by deep layoffs and feeble hiring. Business investment and consumer spending have suffered in the busts of recent decades, and government spending has not picked up the slack, leading to chronic shortfalls in demand for goods, services and employees. One sign of the downshift is that much of the recent job growth has been in lower-paying occupations. Worse, there is little evidence of a turnaround. In the past five years, postings for jobs that do not require a college degree have steadily outpaced postings for those that do.
Unfortunately, the Editorial Board is clueless about the most obvious way to increase outcomes for college graduates. We need less immigration. Immigrants are streaming into the country and they are taking jobs that could have been done by American college graduates.