Sir, – In response to Peter McGuire’s article “Is a college degree worth it any more?” (Analysis, Education, September 12th), what we have seen with the modern education systems globally are a number of significant trends. Rising tuition costs have led to an unprecedented level of student loan debt. As such many students are facing decades of debt repayment, limiting their financial freedom and choices.
Many graduates find themselves in jobs that don’t require a degree. The “gig economy” and contractual work offer little in the way of job security or benefits. Despite higher qualifications, real wages for many jobs have not increased in years.
The promise of education leading to upward mobility is increasingly becoming a myth. The idea that universal higher education would result in a shortage of workers for low-paid or so-called “unskilled” jobs as raised by Peter McGuire thus becomes just another topic of concern and debate. While education is generally seen as a pathway to better opportunities and social mobility, what happens when everyone has access to that pathway?
Well if everyone has a college degree, we will end up with a surplus of overqualified individuals for the low number of high-skilled jobs available. And as Peter McGuire points out, we will find that there will be a shortage of willing labour for low-paid or “unskilled” work. Already this is hitting countries like Germany which are experiencing major shortages in skills.
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Another example is South Korea, which is often cited as a pinnacle of educational achievement, boasting high literacy rates and stellar performances in global educational rankings. However, this comes with its own set of challenges: notably, credential inflation and high youth unemployment. Due to the high emphasis on education, many South Korean youths pursue advanced degrees. The result is a workforce where a large proportion of job applicants have bachelor’s or even master’s degrees, making it difficult to stand out based on educational credentials alone.
Many young people are educated for white-collar jobs that are in short supply, leading to a mismatch between qualifications and available jobs. This has resulted in the so-called “sampo generation,” referring to young people who have given up on three major life events: dating, marriage, and children, due to economic instability. Like the sampo generation, Japan’s hikikomori are young people who withdraw from society. Others are financially dependent on their parents and delay marriage and family formation. In countries like the US, the post-2008 “lost generation” faces economic challenges that have led to delayed milestones. “Boomerang kids” return home after college due to financial constraints. Italian “bamboccioni” are young adults who live with their parents much longer than previous generations, primarily due to the country’s economic instability and high youth unemployment.
While the challenges facing young adults in Ireland may not be as intensely defined or labelled as the “sampo generation” in South Korea, they are certainly present and are influenced by a combination of economic, social, and cultural factors. The key difference may lie in how these challenges are articulated and addressed by society and policymakers.
Finding oneself and maturing through relationships and life skills can be accomplished in many ways. Ireland has to get the balance right and learn from the mistakes of countries. – Yours, etc,
Dr PAUL DAVIS,
Swords,
Co Dublin.