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| ARTICLE: New Normal: Majority Of Unemployed Attended College (944619) | |
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ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Concourse Express on Fri May 25 10:37:58 2012 Yet another article highlighting the sobering realities college grads face. It should be noted, however, that the figures include those who started college but did not finish; more fuel for JayMan's "too many people are attending college who shouldn't be" argument?Anyhow, here's the link and here's the story: ===================================================================== New Normal: Majority Of Unemployed Attended College By JED GRAHAM, INVERSTOR'S BUSINESS DAILY Posted 05/17/2012 06:57 PM ET For the first time in history, the number of jobless workers age 25 and up who have attended some college now exceeds the ranks of those who settled for a high school diploma or less. 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. Unemployment for those 25 and up with some college but no degree was 8% in April compared to 6.6% for the age group, measured on a more volatile seasonally unadjusted basis. In the same month, the jobless rate was 7.7% for 25-and-up high school grads with no college and 6.2% for those with a two-year college degree. For college grads, including those with advanced degrees, the jobless rate was 4%, seasonally adjusted. For those age 16 to 24, who also factor into the overall 8.1% jobless rate, the ranks of the unemployed no longer in school are much lower among those with some college than without. Partly, that is an issue of timing, as well as maturity, tied to the early age of high school completion. However, in both cases, the reality is dismal among the young adults no longer in school: 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%. This has occurred even as student lending and enrollment at community colleges has soared, elevating the student loan crisis to the center of political debate and a rallying cry for the Occupy Wall Street movement. Among students who started a four-year college in 2003 but hadn't graduated six years later, 14% had student-loan debt of $28,000, according to the College Board's Trends in Student Aid 2011. Financial stress and worry about escalating debt amid weak economic prospects seems to be a factor in elevated dropout rates. Even many recent college graduates have struggled to find work requiring a bachelor's degree. ===================================================================== For more on how I feel about this, check out my blog post on the subject. visit my blog! |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Nabinut on Fri May 25 12:40:30 2012, in response to ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Concourse Express on Fri May 25 10:37:58 2012. I am one of those "25 & up" unemployed workers who is attending college to hopefully improve my odds of a better than $7.25/hr employment.I understand that I am competing with the other 3.5 million undergrads and graduate students for my place in the food chain but it's a hell of a lot better than looking in the want ads everyday and glossing over 28 out of 30 job industries and taking the smallest wage scale possible when I know I can do better. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Fred G on Fri May 25 13:37:22 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Nabinut on Fri May 25 12:40:30 2012. Plumber or Electrician. You'll have work for the rest of your life.Your pal, Fred |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by SLRT on Fri May 25 13:51:21 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Nabinut on Fri May 25 12:40:30 2012. Many people are doing what you're doing. Bad times for employment are boom times for colleges, especially accessible community colleges.Question is, what courses are people going for? Are they improving marketable skills or simply trying to show "additional education" on a resume. It can make all the difference. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by AEM-7AC #901 on Fri May 25 15:01:40 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Nabinut on Fri May 25 12:40:30 2012. I am one of those "25 & up" unemployed workers who is attending college to hopefully improve my odds of a better than $7.25/hr employment.Admittedly, I'm in nearly the same boat, except that after years of procrastination, I'm going to push myself to go back to school. I suspect there are others in my boat who are of average intelligence, but aren't exactly sure of what we want to do, but we know that we have to go finish school for something. Even with a low worth liberal arts degree from a local public college, it still gives a better shot at the low end jobs in the $30K to $40K range around here whether they be in the private sector, non-profits, or government employment. And $40K per year with manageable student loan payments is better than $25K with none. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by SLRT on Fri May 25 15:46:05 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by AEM-7AC #901 on Fri May 25 15:01:40 2012. IMO, the value of a "liberal arts degree from a local public college" is that it fulfills a base requirement for certain jobs, especially in the public sector.If you have an idea what you want to do, you need to find out what KIND of degree will help you in that. I know of a couple of people who have doctorates in (respectively) anthropology and biology. The first spent years in jungles eating what the indigenous people ate (his advice: most insects are pretty good but try to avoid the legs) and the latter is published in the field of biodiversity. Neither is working in their field any longer, but their doctorates helped get them advanced administrative jobs in a college. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by SLRT on Fri May 25 15:50:03 2012, in response to ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Concourse Express on Fri May 25 10:37:58 2012. Translation: when level of education simply gives one a competitive advantage it stands to reason that the higher the general level of education, the less the advantage of attaining any particular level.When I was a kid, a high school diploma still meant something and there weren't many ordinary administrative/clerical jobs that required college. Education educates and provides credentials, it doesn't create jobs. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Concourse Express on Fri May 25 17:34:43 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Nabinut on Fri May 25 12:40:30 2012. It may be a stiff competition, but getting in the mix is still better than not. You may yet find gainful employment! Perseverance - and persistance (in the job hunt, I mean) are key.visit my blog! |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Concourse Express on Fri May 25 17:40:49 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by AEM-7AC #901 on Fri May 25 15:01:40 2012. I'm also in a similar boat, though it's one of underemployment.My tutoring gig pays very well in terms of hourly wages but it's capped at 20 hrs/wk max, so my annual income is still kinda low. Indeed, $40K/yr is better than $25K/yr, even with the gloomy clouds of loan debt over you. There are jobs that simply require degrees as opposed to a specialized degree. Once you figure out what you want to study and which field(s) you're interested in working in, go for it - and take advantage of every opportunity that improves your job prospects - internships (paid or unpaid), career fairs, etc. visit my blog |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Concourse Express on Fri May 25 17:46:15 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by SLRT on Fri May 25 13:51:21 2012. Question is, what courses are people going for? Are they improving marketable skills or simply trying to show "additional education" on a resume. It can make all the difference.While such indeed makes a difference, I don't think only specialized degree tracks afford students "marketable" skills. Methinks it depends on what students do beyond their courses... visit my blog! |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Concourse Express on Fri May 25 18:03:14 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by SLRT on Fri May 25 15:50:03 2012. when level of education simply gives one a competitive advantage it stands to reason that the higher the general level of education, the less the advantage of attaining any particular level.This is true only to an extent. Yes, more students in college (and more college grads) means the value of certain degrees (i.e. associate/bachelor degrees) drops a bit. However, it remains true that not all students can handle Master's/Doctorate level work; hence, those degrees may still offer significant advantages over the lower-level degrees. When I was a kid, a high school diploma still meant something and there weren't many ordinary administrative/clerical jobs that required college. I believe you. What's sad is we're already approaching the days where you can replace high school diploma with bachelor's degree... Education educates and provides credentials, it doesn't create jobs. It may not create jobs, but it should give students some preparation for jobs; this is especially true of selective degrees where the knowledge and skills attained are applied in the field. In reality, the post-graduate employment problem is a confluence of several smaller-scale problems: schools that fail to adequately prepare students, students who fail to take college, the courses, and/or the opportunities afforded therein seriously (plus those who aren't able to handle the load and thus drop out, often in debt), employers requiring degrees for jobs that don't necessarily require them, high tuition costs which lend themselves to the student loan problem, etc. visit my blog! |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Spider-Pig on Fri May 25 21:39:35 2012, in response to ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Concourse Express on Fri May 25 10:37:58 2012. The fact that they chose "some college" as the statistic implies that the majority of people who are unemployed are NOT college graduates, otherwise they'd have gone with that. This is just speculation on my part, I DID NOT read the article (I will later), but I'm willing to bet on this. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Spider-Pig on Fri May 25 21:45:29 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Spider-Pig on Fri May 25 21:39:35 2012. Read it. It's unclear if I'm right or not, but I'm willing to bet I am. |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by Concourse Express on Fri May 25 22:18:04 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Spider-Pig on Fri May 25 21:45:29 2012. I did note in the OP that the figure includes college dropouts.However, the current situation is still murky for college grads - not so much due to unemployment (seasonally adjusted rate 4% according to the OP article), but due to underemployment; see the linked articles in my blog post. visit my blog! |
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Re: ARTICLE: New Normal: Majority Of Unemployed Attended College |
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Posted by SLRT on Sat May 26 10:41:35 2012, in response to Re: ARTICLE: New Normal: Majority Of Unemployed Attended College, posted by Concourse Express on Fri May 25 17:46:15 2012. I didn't say "specialized degrees." |
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