A bachelor’s degree is set to become a critical asset for securing well-paying jobs in the coming years, according to a new report by the Center on Education and the Workforce (CEW) at Georgetown University. The report, “The Future of Good Jobs: Projections through 2031”, highlights the growing importance of higher education in not only shaping the future workforce but also in supporting the stability of the U.S. economy.

Catherine Morris, senior editor at CEW and co-author of the report, emphasized that despite skepticism in some circles, the value of a four-year degree remains high. However, it’s essential that these degrees align with the needs of the labor market to ensure graduates find lucrative employment.

“Simply obtaining a degree isn’t enough. It needs to be in a specific area aligned with labor markets,” said Morris. The report encourages partnerships between postsecondary institutions and local industry leaders to better anticipate future job demands and align educational programs accordingly.

Matthew Muench, head of Jobs and Skills at JP Morgan Chase Global Philanthropy, echoed this sentiment, calling for greater investments in community colleges and workforce development programs. These institutions are often best positioned to pivot quickly to meet local employer needs, particularly for low-income students seeking pathways into middle-skill and high-paying jobs.

The report also addresses future employment trends, noting the impact of AI and the retirement of baby boomers on the labor market. While these factors introduce some uncertainty, the report predicts strong job growth through 2031, with most of the new “good jobs” requiring at least a bachelor’s degree.

A “good job,” as defined in the report, pays at least $43,000 annually, with median earnings rising to $74,000 for workers aged 25 to 44. Those with bachelor’s degrees are expected to occupy the majority of these roles, particularly in managerial and professional sectors. Workers in STEM fields are projected to have the highest earning potential, with 90% of STEM jobs classified as “good jobs.”

Artem Gulish, senior federal policy advisor at CEW, highlighted the importance of flexibility in postsecondary pathways, allowing students to reenter education later in their careers to acquire new skills. With government infrastructure investments driving demand for mid-skill jobs, future workers will need access to educational programs that enable them to adapt and upskill as job markets evolve.

Ultimately, the report underscores the crucial role of postsecondary education in securing stable, high-paying employment for future generations.

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