Unemployment Rates For College v. High School

by skeeter1 19 Replies latest jw experiences

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  skeeter1

  Young people with only high school diplomas or less are hardest hit by unemployment

  Published: Friday, April 22, 2011, 1:46 PM

  AP graphic Only about a third of young people with a high school education or less are working full time. Young people who try to find work straight out of high school aren't faring well in today's tough economy.
  
  Only about a third of young people with a high school education or less are working full time, compared to two-thirds of recent college grads, according to an Associated Press-Viacom poll.
  

  Four in 10 of those surveyed whose education stopped at high school are unemployed. Less than a quarter have part-time jobs, the poll of 18- to 24-year-olds found.
  
  The unemployment rate has been over 20 percent each March for the past three years for high school graduates ages 16-24 who have no college education. That's up from 10 percent in March 2007 and 14.5 percent a year later.

  Three-fourths of those who chose not to go to college cited cost as the reason and say they hope to return to trade school or college someday.
  
  While prospects are better for young college grads, they still lag far behind older college-educated workers. About 9.3 percent of young college grads are unemployed, more than double the 4.7 percent unemployment rate for college graduates age 25 and older, according to a report from the Economic Policy Institute.
  
  Young high school graduates are not keeping pace with their older peers either, the EPI reports. "Their 22.5 percent unemployment rate is more than double the 10.3 percent rate among high school graduates age 25 and older."Unemployment is even higher among minorities with only a high school education.

  The unemployment rate for black high school graduates under age 25 and not enrolled in school was 31.8 percent, compared with 22.8 percent for Hispanic high school graduates and 20.3 percent for white high school graduates.
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  Coffee House Girl

  Thanks for the reaffirmation that college is the right decision for me ...I am hoping that someday when I graduate those who are in charge of hiring can appreciate an older graduate as mature and one who took her education very seriously

  CHG
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  Gayle

  The Governing Body will dismiss this report, of course.
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  JonathanH

  Who needs work? That just takes time away from handing out magazines!
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  fade_away

  I wanted to study computer arts and graphic design. I had a very strong goal to go for that and start a career in the videogame industry. I understood the pros and cons of that career but I was willing to go for it all the way cause it's what I truly wanted.

  Instead I listened to my parents advice to give myself spiritual goals instead and strive for a simple part time job. Besides, the entertainment industry was "the devil's tool" to corrupt. Thanks to this religion I know have a GED and a mediocre job at a warehouse. But since I moved out on my own, I left the cult. Now I can continue chasing my original goal but I hope it's not too late. I'm in my late 20s now, when I should've started right after highschool. Thanks GB!
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  Pistoff

  The Wt never discusses this specific point; they only cherry pick comments to the effect that so many percent of grads find jobs in their field, etc.

  Of course, most DO find a job, that is the point.

  So from newer grads to older grads, the unemployment rate is HALF that of non-college grads.

  And this does not address the rate of earnings over a lifetime; most stats put the average at a million dollars more over a lifetime for college grads.

  The society frames those who attend college as materialistic, not spiritual and careless of the 'lifestyle' at college.
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  daringhart13

  Thank you for making my blood boil this morning.

  Missing out on college continues to be at the source of my anger.

  I know I can fix it.....it just angers me at 43.
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  JonathanH

  I read a similar article recently. Makes me feel very good about my decision to go to school. Growing up a witness not getting a job after going to college was a big excuse for me not to go. It was the prevailing wisdom that education was a waste because brother so and so went to school for massage therapy and now he's still a janitor! Why bother? Just pioneer instead. Worked on me too. I didn't want to waste time and money getting an education I wouldn't use, especially since I had no idea what I wanted to do for a living.

  I feel kind of dumb saying it, but I hate that I'm getting started so late in life....but....I'm 26. Seeing gentlemen and ladies on here that are going to college for the first time in their 30s, 40s, or even 50s is inspiring to me and makes me feel not so bad about the fact that I won't be starting my first semester until I'm 27. I feel so old having gone through what I have with the witnesses that I forget that I'm younger than I feel at times.

  I will hopefully have my AS degree in Engineering when I'm 29, and my goal is to have my bachelors of science before I'm 34. Which seems attainable, but being an adult that has to work full time to pay bills makes going to school full time a difficult proposition. But I am determined and sharp, and it's what I really want, so I think I can handle the work load (I hope).

  It really does seem silly when you look at the numbers to not invest at least a couple of years into college. My wife makes more than I do, and it feels like she makes a ton (by our standards), but it's only a bit under 30k a year with her latest promotion (she's worked for the same company for years, and has managed to move up the ladder to an assistant manager at a big box retail store). But even with just an AS degree in engineering the "entry level" positions pay more than that. It always seems hilarious to me when I read something by somebody talking about careers and saying "well this job doesn't really pay all that much, maybe 40 grand a year" and I think "That's freakin' rich by my standard!". I'm not materialistic by any stretch of the imagination, but it would be nice to not live paycheck to paycheck, and be able to start planning for retirement in several decades. I feels sorry for my brother and sister who are still in that will never go to school, or have a chance to earn a decent wage, or retire.

  I really need to go to school.
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  moshe

  The statistics look better for college graduates, but with every venture there are winners and losers--Today, (thanks to our recession) the fate of many people who choose college could be much worse than for regular workers. Colleges are businesses and they purposely minimize the financial risks associated with student loans- and why not? They never have to give back money to students who fail to a land a professional job based on their 4 year degree.

  "Deanne Loonin, a lawyer at the National Consumer Law Center, said education debt was not good debt for the low-income borrowers she works with, most of whom are in default.

  Unlike most other debt, student loans generally cannot be discharged in bankruptcy, and the government can garnish wages or take tax refunds or Social Security payments to recover the money owed.

  Students who borrow to attend for-profit colleges are especially likely to default. They make up about 12 percent of those enrolled in higher education, but almost half of those defaulting on student loans. According to the Department of Education, about a quarter of students at for-profit institutions defaulted on their student loans within three years of starting to repay them.

  “About two-thirds of the people I see attended for-profits; most did not complete their program; and no one I have worked with has ever gotten a job in the field they were supposedly trained for,” Ms. Loonin said.

  “For them, the negative mark on their credit report is the No. 1 barrier to moving ahead in their lives,” she added. “It doesn’t just delay their ability to buy a house, it gets in the way of their employment prospects, their finding an apartment, almost anything they try to do.”
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  skeeter1

  Debt - here's my take.

  Private Schools - the tuition is likely alot higher then a state school or community college. If you go to a private school and don't have a full scholarship, your debt is going to be higher. Moral - Opt for State Schools and local community colleges. After all, basic degrees like accounting or teaching can be learned anywhere. If you are going on to a Master's or Doctor's degree, then it is more important to go to a school known. But, I bet you can find a good state school.

  My entire 4 year, undergraduate degree at a state school was about $15,000 back in the late 80s and early 90s. I have made that over & over. I just checked tuition, and it is currently under $5,000 a year. With books, it woud likely be around the $6k mark per year. A similarly ranked private school - the tuition is about $15,000 to $20,000 a year!

  Debt - government backed or sponsered student loans are the way to go. There are payment plans that allow you to greatly reduce or forego payments when you first graduate from school (up to 3 to 5 years) or if you lose a job.

  The loans and interest can be "consolidated" into 1. When you do this, your interest may reduce from 5% to 2%ish. This ain't high credit card debt. And, the interest you pay post graudation is likely tax deductable.

  So, if you get basket weaving degree at the private school, Boston University. Yeah, you're in financial doo-doo.

  If you get an science or engineering degree from state school, say, Georgia Tech. Enjoy the good life.