I like to make this chart of unemployment rates by education attainment every few months. And it’s been a few months, so:
Here’s what this graph does not say. It doesn’t say that college is guaranteed to get you a job, especially right out of school. It also doesn’t say that college drop-outs are destined to be unemployed. There are 150 million people working or trying to find work right now. That’s a lot of data points, and, without context, one or several of those data points can help you make just about any argument you want to make about the worthlessness, or primacy, of higher education.
But here is what this graph really does tell us. People who don’t go to college have an unemployment rate well above the national average. People who complete a four-year degree have an unemployment rate that’s less than half of the national average. Those who graduate from college are more likely to have a job, more likely to earn a higher wage, and more likely to have the skills and experience that employers go to the labor market to buy.
Although 80% of students graduating high school think they are ready for college once they have their diplomas, the reality does not reflect this confidence. If students base their visions of college on the pop culture representation in movies like Van Wilder or Old School, they are in for a shock when their first week … Continue reading »
The “jobs gap”—or number of jobs needed to return to pre–Great Recession levels—stood at 11.3 million in late 2012, while 12.8 million Americans were unemployed. Carnevale, Smith, and Strohl (2010), however, estimated 46.8 million new jobs will need to be filled by 2018, of which 13.8 million will be new jobs and 33 million will … Continue reading »
How Much Protection Does a College Degree Afford? Past research from Pew’s Economic Mobility Project has shown the power of a college education to both promote upward mobility and prevent downward mobility. In the wake of the Great Recession, however, many have questioned whether the advantageous market situation of college graduates has suffered under the pressure …Continue reading »
“In America and other well-developed countries, it’s easy to take education for granted. For most women, if you want to go to college, you can make it happen, whether it’s through student loans, scholarships, or alternative education. But around the world, millions of women and girls never have that opportunity, and often never even complete … Continue reading »
There are two major factors we need to address to close this gap and bring students and young professionals closer together with employers. The first factor is empowering students to make informed decisions about their degree and courses they take. It takes 120 credits to graduate with a Bachelor’s Degree, yet the national average is … Continue reading »
Millennial Branding, a Gen Y research and consulting firm and StudentAdvisor.com, a Washington Post Company and the leading free learning resource for students, today announced a new report on how students are developing their careers while in college. The report, The Student Career Development Study, shows that students are not aggressively preparing for their post-college …Continue reading »