MONEY & LIFE

Why Trade Jobs Are Becoming More Popular

By: Anneken Tappe · September 05, 2024 · Reading Time: < 1 minute

Conventional wisdom dictates that a college degree leads to the path of a high-paying job. But that idea is changing.

Younger Americans are showing a growing interest in blue-collar jobs, likely due to rising wages, perceived job security, and lackluster growth for jobs that require bachelor’s degrees.

Exploring the Trade Route

Enrollment in vocational or trade schools rose by 5% between 2019 and 2024, while enrollment in bachelor’s programs fell by 4%, according to a CNN report citing data from the National Student Clearinghouse.

This corresponds with slowing job growth in the white-collar sector. Since mid-2022, hiring rates for jobs that require a bachelor’s degree have fallen at a faster annual pace than others, per ADP data.

The Changing Job Market

There can still be great value in obtaining a college degree. On the whole, the average weekly salary of workers with a bachelor’s degree is higher than of workers who graduated from vocational programs, per Bureau of Labor Statistics data included in the CNN report. However, in certain blue-collar disciplines, like construction, wage growth is outpacing white-collar roles, making it increasingly attractive. Plus, there is high demand for certain blue collar jobs, such as electricians, who will be key to supporting the nation’s transition toward more electricity use over traditional fossil fuels.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

Communication of SoFi Wealth LLC an SEC Registered Investment Advisor

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

SOSS24090501

TLS 1.2 Encrypted
Equal Housing Lender