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The Benefits Of A College Education
... Are what again? As the following graphic from IBD demonstrates, for the first time in history, a majority of jobless workers over 25 have attended some college, and now outnumber those without a job who simply have a high school diploma or less. But at least those in the fomer category have tens of thousands of non-dischargeable debt to show for it.
From IBD:
Out of 9 million unemployed in April, 4.7 million had gone to college or graduated and 4.3 million had not, seasonally adjusted Labor Department data show.
That's a swing of more than 2 million since the start of 1992, early in another jobless recovery, when 4.1 million who hadn't gone to college were jobless vs. 2.3 million jobless who had gone.
Mostly, this dramatic shift reflects broad demographic forces. A greater share of the population has attended college, at least for a time. Meanwhile, older Americans who were less likely to pursue higher education are exiting the work force.
In 2011, 57% of those 25 and up had attended some college vs. 43% in 1992. Those without a high school diploma fell from 21% to 12% over that span.
But along with the increasing prevalence of college attendance has come a growing number of dropouts, who have left school burdened by student loan debt but without much to kick-start their careers.
For those in the labor force — either with a job or in active pursuit of one — 57% of high-school grads with no college (2.9 million of 5.1 million) have found a full-time job.
For labor force members who have attended — and left — college or earned an associate degree, a depressing 64% (2.2 million of 3.5 million) have gained full-time employment.
Among everyone up to age 24 who has left college or earned a two-year degree — including those not actively searching — the full-time employment-to-population ratio has plummeted from 69% in 2000 to 62% in 2003 to 54%.
The good news? That part-time worker you are hiring at minimum wage likely has two Masters Degrees... and a Ph.D. (in economics).
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And don't come telling me about your associate of arts in general studies from the community college of bumfuck America.
Noted. Thanks for the heads-up.
Not a single answer to any of your requests. Hmmmmmm, me thinks someone is not capable of breaking out of their crisis of allegiance.
When one looks up Modest Mouse on Youtube this is what comes up first. Rightfully so.
You have found a good ID. Why not top it off with a picture?
9/11 was an inside job...we all gotta get over it, no?
http://www.youtube.com/watch?v=CTAud5O7Qqk&ob=av2e
If everyone going to college just simply used a credit card, get a degree, and at the time comfortable for you, declare bankruptcy before you graduate. Live tight. If everyone declared bankruptcy who needed to, how many Finance Sector clowns would have to be downsized and laid off? If the Roth schild family wealth declines from 15 trillion, let's say, to half that, how many finance sector jobs get destroyed? how many Cayman Island accounts get closed? how many lobbyists leave Washington, DC?
When I went to college most of the "students" were only interested in sex, booze, and football.
Not that I have anything against those things. But the students weren't being prepared for a world in which millions of Mexicans and Chinese are willing to do real work for much less pay.
They all probably thought they were going to be rock stars or actors or banksters. And instead they'll man the fast food joints and the hollow corporate offices.
American civilization drowning in a sea of irrelevance is what I see around me.
"American civilization drowning in a sea of irrelevance is what I see around me."
That's putting it mildy. Sodom and Gomorrah were like Mayberry compared to the modern American city. In my mind, that's more than enough proof the bible is total BS. America should be ashes by now.
The local high scholl football hero can't even keep up to us old fuckers for a week on a job. Over the years we simply stopped hiring these useless twats (at $18-20/hour CASH) and started renting/leasing/buying equipment that is much more reliable and hard working than some high school or college kid that thinks lifting anything over 20 lbs is grounds for a medical claim.
Hey future bankers and other useless tools, I'll be asking you to super-size my meal the next time I see you and asking you how you'll pay off your massive student loans. Oh wait... I forgot I don't eat the shit where you work now. Keep up the good work. In 10 years you'll be the Manager of Janitorial Services at the local truck stop since your "education" trained you to push paper and not produce a fucking thing.
H1B visas gutted high paying jobs in the private sector starting about 2000. Any time the congress wants to stop the bullshit, this country can start moving in the right direction.
so i guess we should be sad that the ones who are gettin screwed over by the manipulated economy are more educated than the previous ones?
Edjumakation, the last great modern farce and bubble of insanity, which when popped will be a great relief to the survivability of "the people".
Useless do nothing professors making 6 figures, while endless numbers of stupends leave college with high 5 figure or 6 figure debt...along with other new debt taken to survive because they have no real skills other than how to argue about theories like immature dipshits.
yeh this is sustainable....
Or you spend too much time listening to talk radio tell you that dumb is the new cool.
sorry to disappoint you but i have three post grad degrees.
academia is a sham, and is mostly a PR and Spin factory, rather than substance.
Now it starts with travel ball. 12 players needed to support the two best.
Education Revolution!
If we're gonna blame someone, it should be those terrorist universities... taking public funds and using them to destablise the nation. They're driving up the unemployment rate! War on Education!
But seriously.. it should not be suprising that skilled labour is being priced out with the cost of capital artificially low. There is always a balance between cost of capital and the cost of skilled labour, right now it's cheaper to design a business with high capital costs (eg workplace automation) and low labour cost, than vice-versa.
Thanks Benny for another unintended consequence.
More like: Education Inflation
Most of the (average) College education in US is equivalent to (average) high school in Europe with the difference that the high school in Europe is in big degree free of charge.
Coming from Eastern Europe, I was first acquainted with the "high" level of College degree in US, by a person having a Masters degree in Mathematics from a private University in New Jersey, who was amazed how I can calculate/develop the expression (ax + by)^2 in my head, without having to write anything on paper. This is something that in the 80 an above-average, elementary school student, from behind the Iron Curtain, can do in his/her head.
"Had gone to college"...a criterion obviously chosen to enlarge the possible set to the point of being worth discussing, regardless of how nebulous or irrelevant.
Why not "people with a degree"?! Numbers not as compelling, eh?...especially if you look at the 4.7% UE of degree holders against the 9+% of non-degree holders.
Is college the wrong choice for some people?
Sure, people who are stupid and/or lazy should probably not spend money on education and some still do, but that's not a problem with education.
Wanna know who has a degree and is still unemployed? People over 50.
G'head and pretend that it isn't about the cost of their healthcare, if it makes you feel less like a duplicitous stat-slinging slimeball.
+1. Unemployment among college degree holders in the major job centers (NYC, Chicago, D.C., L.A., etc.) is practically 0%.
...if you voted for Rosemary's Baby and the Bush Whack Jobs etc... you have a 99.999% chance of experiencing your own judgment and realizing Hell on Earth, from now until the return of Christ, when your dusty arse shall perish, like a Corzine Account; dollar sign carved on your forehead, in the eyes of the SEC, at 666 Citi Bank, after a plane flew into the accounting section and burned the hypothecated Counterfiat Fitzgerald Dimon studded shorts on fire with your dusty arse in them. http://www.youtube.com/watch?v=GgUFrU6Rh_E&feature=related
P.S. ...to any of you morons that dare to count NYC D.C. and UnHolyshitwood at this point, you have a 100% rate of return coming in the form of fire. Morons, who in Hell would give two birds in the same burning bush as an example at this point, Mr. Down Arrow? Lol.
Whose debts are these? The students? Or their parents/grand parents that co-signed the loans?
When I needed student loans none were available, not without a cosigner.
None of these stories talk about cosigners though.
Clearly not everyone should go to college. Not everyone should be a plumber. Not everyone should own a house.
Trying to make everyone the same is bound to result in problems. Follow your own road.
College is what High School used to be, only now with Extra Special Snooty Bubble Pricing(tm). Unless you plan on becoming highly specialized in STEM or are willing to push through LAS all the way to PhD and tenure, it really isn't worth it. http://www.youtube.com/watch?v=_WLt_DN7rlY
What is now lacking in almost all college or university programs is the concept of real Education. The payment for the certificate of attendance is outrageous, just the same. It is simply amazing that students can be so completely lacking in general knowledge of most anything and still graduate. Sure, the number of worthless programs has increased. But even within those there is not any thorough mastery of the subject material.
The graph in the article showing that there is little advantage in getting higher level of education simply illustrates how poorly educated many graduates are. It is interesting to read so many people now giving advice that university degree is unnecessary. However, if you look at the job openings for their companies you can note that almost everything require a degree. and the reason for that requirement? High schools pass everyone through who has about 80% attendance, knowledge or not.
education is priceless --- knowledge is essential for survival --- the liberty of a free education is but a cornered local library --- read, write, and study only what is of interest,... do not clutter your mind with unnecessary verbiage --- have an open ear for all ignorance and a blind eye towards postulated rationale's, for assuming ones ignorance all but places your morrows on yesteryear's past where futures are buried in regret
lastly,... my favorite "Unknown Author" [how ironic?] quote that i keep on my dresser:
"The length of your education is less important than its breadth, and the length of your life is less important than its depth"
thankyou tyler
Ps. i got thrown out of school a dozen times, and finally quit altogether in the 10th grade. needless to say i never looked back and never regretted the decision! pursue your own level of intelligence and fashion it to your own wants, period!
jmo
This is all very important and difficult. I am concerned that it takes an associates degree to wire up a panel.
In the mean time, I may need my head maintained in a bell jar. I am at my wit's end.
Look at a chart comparing wages of college education+ vs high school and lower, unfortunately level of education is almost direct correlation to salary - the higher the ed the better you get paid generally. This correlation is also seen throughout American cities, higher educated population the more wealthy / lower crime etc.
College simply costs too much in the US, if it was cheap would you all complain about it so much? Go to Switzerland if you can, nice and cheap for a good education!
Non-extinguishable student debt is to college and college costs what securitization was to housing and housing costs.
When those who control needed cash flow are protected from loss, they have no incentive either to reign in costs nor act responsibly.
Move the 40% of the jobs out of Wall Street and you'll see the graph reverse. Its a lot more competitive trying to get a job as a crook these days.
I normally like ZH...but this article is pandering. Key to this article is it combines those with a BS/BA or higher with those who have attended "some college". The drop off in unemployment rates from BS/BA or better to "some college" is staggering. But hey, don't take my word for it. Note how "some college" unemployment rate is TWICE what the rate is for a BS/BA or better.
[sarc] No skew there [/sarc].
Real fluff, this piece. Kinda surprised it was thrown in with quality posts of relevance.
The younger generation is fucked up by the most selfish generation that ever lived. Economic recovery = Boomer's 15 trillions Make Me Feel Good Recovery
Your comment is silly. The problem with it is this - - - it seems to argue that there is something different about the boomers. There's not. If you had been born a boomer, you would have done the same thing they did. It's a question of culture. They knew what they knew at the time they lived - you can't expect more than that. You, with the benefit of hindsight, are just unhappy that you're getting hind teat because you got to the party late.
1 - Why have two lines? If you're providing a graph of % of people who watch the Simpsons every Sunday, do you really need a second line showing % of people who don't? Is it to show the crossing point?
2 - If you track the % of HS grads going to college, it should track the % of unemployed who have some college. No news there, particularly if the implication is that a college degree is losing value.
Darned worthwhile article that examines the failures and causes of the current higher education system. Small snip.
The Coming Decline of the Academic Left
However, the nation's colleges might be on the cusp of a major crisis that could pose a serious challenge to the leftist domination of campus. It is my purpose here to explain why and what the consequences might be. Actually, the ingredients of the crisis are well known:
How are the leftist dominated American universities responding to this crisis? Simple answer: the same as the leftists running our government--namely, double down on the very policies that have caused the crisis in the first place. In this strategy, there is an eerie resemblance to the tactics of the Obama administration. Exactly as our federal government is bankrupting itself by its unsustainable tax and spending profligacy, university presidents keep raising tuition and fees in order to vigorously pursue their expansive and flawed policies. The addiction to spending is the same in both enterprises, but universities can't print money like the feds. So instead they hike tuition, beg for more financial assistance from federal and state governments, and prostitute themselves in the search for corporate and government grants. As for the tyrannical, leftist mindset that dominates the humanities and social sciences, it grows more and more entrenched.
When are the for profits finally going to start to crack? It's the biggest scam to go in debt for an "online" degree.
When are the for profits finally going to start to crack? It's the biggest scam to go in debt for an "online" degree.