The current class of high school seniors is the last before a long decline begins in the number of 18-year-olds â the traditional age of students when they enter college.
This so-called demographic cliff has been predicted ever since Americans started having fewer babies at the advent of the Great Recession around the end of 2007 â a falling birth rate that has not recovered since, except for a slight blip after the Covid-19 pandemic, according to the Centers for Disease Control.Â
Demographers say it will finally arrive in the fall of this year. Thatâs when recruiting offices will begin to confront the long-anticipated drop-off in the number of applicants from among the next class of high school seniors.
But the downturn isnât just a problem for universities and colleges. Itâs a looming crisis for the economy, with fewer graduates eventually coming through the pipeline to fill jobs that require college educations, even as international rivals increase the proportions of their populations with degrees.
âThe impact of this is economic decline,â Jeff Strohl, director of the Georgetown University Center on Education and the Workforce, said bluntly.
|