From the Archives: Smart People Glut U.S. Labor Market (1979)

Happy (early) Labor Day! A quick, interesting read from the October 1979 issue of High Times Magazine.
labor
Courtesy High Times

WASHINGTON, D.C.—Currently there are approximately 140,000 college graduates in America who can’t find work commensurate with their level of education. While through-out the ’60s and ’70s American colleges feverishly pumped out a steadily increasing volume of highly trained and educated people, the local market for their services has actually diminished, thanks to computerization and the reluctance of established industries to branch out into alternative modes of development, such as solar power, geothermal energy, etc. According to the Bureau of Labor Statistics and the National Planning Association, by 1985 there should be 700,000 overqualified college grads competing for what few specialized brain jobs still exist. Says congressional spokesman Robert Hamrin, “More college students [should] become aware of the oversupply and lower their educational goals.”

High Times Magazine, October 1979

Read the full issue here.

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