As artificial intelligence restructures the workforce and reduces the number of entry-level opportunities, an alternative is emerging for recent college grads struggling to find jobs: going back to school.
Nearly 78% of those who are considering graduate school said they plan to enroll in a program within 12 months, according to a new Jenzabar/Spark451 survey, up from 69% who expressed similar plans a year earlier.
Typically, enrollment in graduate school increases during economic recessions as workers take steps to “skill up” or move to another industry with better career prospects or pay.
“We know that there is a trend to go back to school to re-skill during a recession,” said Kristin Blagg, a principal research associate at the Urban Institute, a think tank. In times of economic uncertainty, “people shelter in higher education,” she said. “It makes sense that it’s counter-cyclical.”
But this current economic cycle is not like the others.
