Final answer:
The necessity of a university education is debated in the context of job market trends, but increased value of a bachelor's degree and lower unemployment rates among degree holders imply its continued relevance. Employers are also valuing skills over degrees more, expanding job access.
Step-by-step explanation:
The question revolves around the current necessity of a university education in light of job market trends and economic factors. It suggests that due to a shift towards jobs that require specific trade skills and the outsourcing of work requiring higher education, a traditional university education may not be as vital as before. However, it is important to consider that wage increases for college degree holders and the declining value of a high school diploma have indicated that post-secondary education remains relevant, at least in terms of earnings potential and employability. For instance, unemployment rates have historically been lower for those with college degrees compared to those with less education, underscoring the benefits of higher education in securing better labor market opportunities. The increasing value of a bachelor's degree and the high demands for post-secondary education in many industries align with economic inequality tendencies and shifts in the U.S. labor market. Employers have started to recognize skills and knowledge over formal degrees, thus, widening job access and promoting workforce equity.