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Why education, unemployment, and salary expectations
all go together.
 Thinking
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."
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Salary expectations by education level (2010). |
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Less than high school
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$444.00 per week / 14.9% unemployment |
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High school
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$626.00 per week / 10.3% |
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Some college
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$712.00 per week / 9.2% |
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Associates degree |
$767.00 per week / 7.0% |
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Bachelors degree
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$1,038 per week / 5.4% |
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Masters degree
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$1,272 per week / 4.0% |
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Professional degree |
$1,610 per week / 2.4% |
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Doctoral degree
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$1,550 per week / 1.9% |
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Source: http://www.bls.gov/emp/ep_chart_001.htm |
2011
Unemployment rates by education level.
Unemployment rate for those with no high school diploma: 14.3%
Unemployment rate for those with a high school diploma: 9.6%
Unemployment rate for those with some college: 8.2%
Unemployment rate for those with a college diploma: 4.3%
Source: August 2011 Bureau of Labor Statistics, Table A-4
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