Georgetown University Predicts 15 Million 'Good Jobs' by 2031 for U.S. Workers with Four-Year Degrees

52%

According to a July 30 report from Robert Half, hiring in the U.S. is expected to remain strong through 2024. 52% of companies are preparing to add permanent positions, 43% are aiming to fill vacancies. To attract talent, employers have been providing many options such as hybrid work options (41%), flexible hours (41%), and higher salaries (38%). Despite these efforts, 86% of hiring managers face challenges in recruiting, primarily due to skill shortages and candidate salary expectations.

15 M

Georgetown University researchers forecast that there would be 15 million good jobs by 2031 in the U.S., for the workers who attain at least a four-year degree. While good jobs for workers with only a high school diploma will decline by nearly 600,000. By 2031, 62% of positions will be considered as good jobs, this is up by 3% points rise from 2021.

3.5%

According to Payscale's latest survey, U.S. employers plan to provide a 3.5% increase in pay scale in 2025, with variations by industry. Government and engineering workers can expect a rise of 4.5%, while retail, customer service, and education workers will see about 3.1%. Despite a cooling labor market and stabilizing inflation, these planned increases remain above the pre-pandemic norm of 3%. However, real wages have fallen by 12.6% since 2006 when adjusted for inflation, according to Payscale.

15,000

Chipmaker Intel CEO Pat Gelsinger stated that the revenue has not grown as expected, so the company is preparing to lay off about 15,000 employees in 2024 to cut costs and aiming to save $10 billion by 2025. This layoff constituting 15% of the workforce, will largely be completed by year-end and will include voluntary departure programs and enhanced retirement offerings. Gelsinger attributed the decision to the need for cost alignment, addressing lower-than-expected revenues, and simplifying operations to eliminate inefficiencies.

25%

As Microsoft has a good fiscal year, it is planning to reward the employees with cash rewards. CPO Kathleen Hogan stated that junior-level employees will be rewarded a 25% rise in annual bonus and for senior directors a 10% rise. This reward follows a 16% revenue increase and comes after a salary freeze and layoffs of 10,000 employees last year. CEO Satya Nadella emphasized the company’s focus on innovation and customer trust.