As the cost of higher education climbs, skills-based hiring has gained traction. It's a labor market trend in which employers hire based on applicants' skills, with the understanding that degrees are not the only way to acquire competencies.

Skills-based hiring has the potential to increase equity in the hiring process, providing avenues to socio-economic mobility for historically marginalized populations. However, there are also questions about whether the movement could demotivate students from pursuing two- or four-year degrees that may be more transferable to other jobs.

To learn more about skills-based hiring across education and workforce training domains, Leigh Parise talks with Matt Sigelman, President of the Burning Glass Institute, which studies economic and workforce trends.