How can higher education institutions potentially see increased job stability for faculty during economic downturns?
Answer
Individuals laid off from volatile industries return to school to gain new credentials.
While K-12 education is vital, higher education stability has a specific cyclical benefit during recessions. When workers in volatile industries experience layoffs, they often seek opportunities to reskill, upskill, or obtain new credentials. This return to school increases enrollment numbers at colleges and universities, which in turn stabilizes or even boosts job security for existing faculty and administrative staff who support these educational programs.
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