College Degree Isn't Economic Umbrella

Job losses due to the recession were concentrated in construction and manufacturing.  Most of the labor force in these sectors did not have college degrees. People did not lose their jobs because they didn't have college degrees. Many lost their jobs because a combination of low interest rates and federal policies promoting home ownership artificially expanded their industries. And  construction and manufacturing workers who held college degrees lost their jobs, too. Their education didn't protect them when demand for construction work and manufactured goods plunged.