Many workers are looking to change their 9-5, and the potential to secure a higher-paying job with more flexibility is incentivizing millions to learn new technical skills.
There is “a huge migration of people online looking to learn new skills to get new jobs,” Coursera CEO Jeff Maggioncalda told Yahoo Finance (video above). “The accessibility of job skilling is higher than [ever] before because you can do it online, the availability of credentials, and people can do jobs remotely, especially entry-level digital jobs.”
Maggioncalda explained that the job market is “getting tougher” and new skills and credentials can help workers stay competitive and qualify for virtual jobs, which has become a top priority among job seekers. Google search interest for remote work hit an all-time high in June 2022, a recent study from Lemon.io found.
Coursera provides 21 certificates for entry-level professional jobs that pay over $50,000 on average, according to Maggioncalda. The online education platform’s most popular courses are in data science, computer programming, project management, and information technology.
Many of these are in areas of high job growth as the economy continues to shift toward digital services. The U.S. Bureau of Labor Statistics projected that the U.S. will add 1,074,500 STEM (science, technology, engineering, and mathematics) jobs between 2020 and 2030, a 10.5% percent increase.
The number of women embracing STEM-related courses and professional certificates has also increased, Maggioncalda said. “We’re 50/50 in terms of women learners on Coursera compared to men right now,” he added.
The promise of flexible work arrangements appears to be playing a role in enticing women to new job fields. Between February 2020 and January 2022, 1.1 million women left the labor force, due to factors like insufficient child care and workplace bias.
Overall, Coursera surpassed 100 million total registered users and reported 36% year-over-year revenue growth in Q1 2022. Maggioncalda noted that the education industry has historically been counter-cyclical and that weakness in the economy and labor market could continue to boost users on the platform.
Yaseen Shah is a writer at Yahoo Finance. Follow him on Twitter @yaseennshah22
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