Vocational Programs May Be a Viable Solution to Income Inequality in Manufacturing Industry

Some experts are saying that deeper investment in vocational programs and trade schools, rather than 4-year colleges may help solve the U.S. income gap, and make the manufacturing industry more competitive globally.

Data from the U.S. Census Bureau shows that in September 1977, more than 18 percent of the U.S. labor force, roughly 18.3 million people, worked in U.S. manufacturing. In 2017, less than 8 percent, about 12.4 million, work in U.S. manufacturing, despite the general population growth to 326 million, per CNBC.

It has long been assumed that a college degree leads to higher average income, what some might call the college premium. But even with this hypothetical edge, some students will earn less than average. And they might even lose money if the burden of college debt undermines the income boost that comes with a bachelor's degree.

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