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Wednesday, March 7, 2012

Income down but college degrees up.

Income for young workers dropped 11 to 27% over the past ten years. The recession is directly responsible for most, but not all of the decrease. College graduates income has also dropped, regardless o age. Wage, benefits are not keeping up with the overall growth of productivity and are well below the growth of the stock market, according to the Economic Policy institute. Real wages (adjusted for inflation) have been going down since the recession of 1977.

Yet the US has reached another milestone...40% of Americans now have college degrees, up from less than a quarter in 1998.

Is a college degree the new equivalent of a high school diploma with trade training, or does this increase message tell more about America and our future?


More from Marketplace Money. Click here for the rest of the story.

7 comments:

Anonymous said...

Good question...and my opinion would be that yes the college diploma is now almost the same as what a high school diploma was worth not long ago.

Stephanie Cardiel Com 4044

shung lee said...

I personally think that this is great, because America is getting more education now...like my country South Korea, we are all about education, and getting some sort of degree.

Anonymous said...

Jobs are raising there standards now because of this. GED's don't cut it anymore, highschool diplomas get you as far as the clerk at walgreens and diplomas can be found everywhere. Jobs get very picky and want someone who can do literally EVERYTHING plus have a diploma, its expected now and everyone must raise there standards to have a decent income.

Claude Marchi com101 hn4080

Cameron Rand com101 4044 said...

I think people are finally realizing education is important, and are taking it more seriously.

Ashley said...

I believe that like the American currency, were 50+ years ago the value of a dollar and the value of a 100 were much different are now much now compared to be as quite similar. This also I believe is following toward high school diploma and college degrees. The equivalent to a high school is an associate degree. I can can see more Americans striving for higher education for greater work pay and career paths. In this recession it is much harder to land a job when compared with someone with higher education. Many companies now look for at least a bachelors as minimal education requirements (well at least for those jobs with greater pay and creditability and stability) and more people seeking further towards master and PHD.

Ashley Masters- Com 4044

Anonymous said...

I used to think that a college degree guaranteed you a stabile career and income, but it definitely doesn't seem like it anymore. I can't say for sure if this fear is justified or not, but I worry that I'll go to college for 10 years to get my doctorate degree and find out that it means nothing anymore. Where is our country headed? Because I just don't know.

Rebecca Johnson 4049

Anonymous said...

It's seems sad, that while college degrees are up, wages are down. What does that say about the college degree?

I can take this 1 of 2 ways:"Is a college degree the new equivalent of a high school diploma with trade training"

1. Everyone has a college degree, just like most people have a GED / High school diploma, and therefore you need one to compete.

2. The level of education received from a college education is now just slightly better than or equal to having a high school diploma with trade training.

I'm honestly worried that the quality of higher education has declined and it doesn't actually mean as much anymore. Even for jobs it's no longer a good indicator that you might be qualified or get a position. It's becoming a "checkbox" to say that you did something on your own voluntarily and stuck with it.

Due to economic situations the employers want it all, degree and job experience more than ever now. It's hard to get the job without the experience, and it's hard to get the experience without the job. That degree doesn't land you that job anymore, as the school learning was nice, but it doesn't reflect real world situations that you'll encounter that the employer needs to know can and will be handled.

We've all heard it before, maybe have even said it, book learning is different then real world experience. So why does that college degree matter so much? Should it? Henceforth, does it?

Ryan Clift
Com 101-4049