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Value of Higher Education in the US Labor Market
One of the easiest equations one can make between education and a job is that the former paves the way for the latter. It is true that the institutional costs are rising with days passing. But it is at the same time true that college degrees continue to pay back. The fastest growing jobs require skilled and knowledgeable workers who have some college degrees at least and the grad and postgrad only jobs are also high-paying. It is a proven fact that higher education nurtures professionalism and analytical skills in human beings and these are two attributes employers specifically look for in their employees.
Demand for educated workers is in a rise since 1980s and the demand has increased manifold since great global recession of 2008. Demand for lower skilled and educated workers has been inversely proportional during this period and the trend continues. However, college enrollment rates have not increased considerably during the same time period, which has created a dearth of skilled workforce across several industries. Average earnings of graduates have increased nearly 50% in last 30 years according to BLS data. Currently 38% of the US working population has graduation or equivalent level of educational qualification and the number is expected to increase.
On the contrary, average earnings of high school educated working population have remained almost stagnant since 1980s, which might sound a bit horrifying in this age of constantly increasing fuel price. The dropout rate of high school students have also increased because of peanut prospects. However, a college degree is still very much important for getting a high-paying job.
There is a growing section of students which is turning to online education for enhancing their career prospects. Are you in that group?
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2013-04-03 01:53:48
Source: http://blog.edegreeusa.com/2013/04/02/value-of-higher-education-in-the-us-labor-market/
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