Wednesday, November 25, 2020

I felt a disturbance in the force - Colleges Have Shed 10% Of Their Employees Since The Pandemic Began

This is a pretty big shift in higher education.

Colleges Have Shed 10% Of Their Employees Since The Pandemic Began links to: Chronicle of Higher Education, Colleges Have Shed a Tenth of Their Employees Since the Pandemic Began which reports:

September, the traditional start of the fall semester, saw the continuation of historic job losses at America’s colleges just as they sought some return to normalcy amid the coronavirus pandemic.

Preliminary estimates suggest that a net 152,000 fewer workers were employed by America’s private (nonprofit and for-profit) and state-controlled institutions of higher education in September, compared with August, according to the U.S. Bureau of Labor Statistics, which calculates industry-specific employee figures. The net number of workers who left the industry from February to September now sits at around 484,000.

It took ten months to lose 10% of the employees.  To put this in perspective, it took about 11 years for the same number of employees to be hired.

It will be interesting to see how the next couple years ago.  I think there is a decent chance higher education could lose another 10%, especially since people are starting to look for new ways to get an education.

Hat tip: Instapundit