U.S. unemployment is dismal right now, but slicing it by educational attainment makes a compelling case for anyone to increase their level of education. As shown below, Americans with bachelor’s degrees and higher have just a 4% unemployment rate. There isn’t an unemployment disaster for this demographic.
Yes, we know that the university educational system isn’t perfect. A lot of people probably learn somewhat useless skills and college degrees are expensive to attain. Yet give us 100 people with degrees vs. 100 without degrees and the first 100 will tend to have more people with marketable knowledge and skills than the second 100, even if a few of the college educated wasted their time and money. You’ll never know exactly what skills lead to the best jobs, but collecting different kinds of knowledge, in large amounts, has a high probability of eventually paying off financially. Better yet, if you study seriously, it also has a guaranteed intellectual payoff.
Thus for all the sophistry about education being a waste of money or broken, you can’t ignore suspecting that there’s a reason why successful people around the world, for hundreds of years, have tended to spend great amounts of time and money educating their children.
This is it:
(Chart Via Econompic, add my twitter @vincefernando for a filter of more like this)
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