Half of the job types that were severely impacted by COVID-19 and don’t require a bachelor’s degree in the Philadelphia metro area can be transitioned to a higher-paying job that requires similar skills, paying an average wage increase of $16,000.
That’s according to a new report from the Federal Reserve Bank of Philadelphia, with research led by Kyle DeMaria, a community development research analyst at the institution. DeMaria found that with these “top transitions” — a transition to an occupation that does not require a bachelor’s degree, pays at least 10% more than the origin, and shares many of the same skills as the origin — workers may not need much new training, allowing for easier pivots in employment.
All 10 of the occupations hardest hit by pandemic-time employment decline were lower-wage occupations, defined as not requiring a bachelor’s degree and paying below $40,727 annually.
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