Why education, unemployment, and salary expectations all go together.

unemployment and education levelThinking about skipping school? There are many reasons why you should invest in education, but your income potential is the most important one.

If you are between the ages of 16 and 24 consider what an education means to the amount of money you have in your
pocket and bank account. The Economic Policy Institute says, "In 2010, the unemployment rate for workers age 16-24 was 18.4%—the worst on record in the 60 years that this data has been tracked." Additionally in 2010, "Young high school graduates have been hardest hit: The unemployment rate for
high school graduates under age 25 who were not enrolled in school was 22.5%, compared with 9.3% for college graduates of the same age."

Salary expectations by education level (2014).
Less than high school $488.00 per week / 9.0% unemployment
High school  $668.00 per week / 6.0%
Some college  $741.00 per week / 6.0%
Associates degree $792.00 per week / 4.5%
Bachelors degree $1,101 per week / 3.5%
Masters degree $1,326 per week / 2.8%
Professional degree $1,639 per week / 1.9%
Doctoral degree $1,591 per week / 2.1%
Source: http://www.bls.gov/emp/ep_chart_001.htm
 
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