this week PIMCO’s Bill Gross said that college is a waste of time. Then NPR dug up these statistics from the U.S. Bureau of labour and centre for Education, which show the amazing discrepancy between college and high school educated adults when it comes to pay and unemployment rates.
In 2010, the unemployment rate for college grads between ages 25-34 was 4.9%, compared to 13.7% for those with a GED.
And as for pay? In 2009, college grads made $50,000 on average, whereas those with only a high school education made $30,000.
Gross says that if you do invest in college, screw your history and psychology classes, and instead focus on science or maths, because a “skill-based education is a must.”
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