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Bob Moon: Time to go back to school. Actually, graduate school. A report out today says more jobs will require an advanced degree in the future. The study is from Council of Graduate Schools and Educational Testing Service. Mitchell Hartman has more.

Mitchell Hartman: The report says by the end of the decade, nearly 20 percent more jobs will require a Master's or PhD.

David Payne of Educational Testing Service says deliver those degrees or the economy will stagnate:

David Payne: While it used to be that there were lots of career opportunities for people with high school education or with bachelor's degrees, we're seeing that in order to contribute to this knowledge-based economy, students really do need to get advanced training.

But the report says graduation rates are low for PhD's, and few minority students go beyond an undergraduate education. More government funding of students and university programs would help, says Payne. Otherwise, the U.S. will fall behind.

Payne: In countries such as China and India, and the E.U., governments are putting significant amounts of money and resources into beefing up and bolstering their graduate and research enterprises.

The report says businesses also have a roll to play by offering more internships and training opportunities.

I'm Mitchell Hartman for Marketplace.