According to the news, the economy has been recovering as of late. Unemployment is slowly dropping. So, it’s a great time to drop out and get a job, right? Not so fast. Before you make an early entrance into the workforce, check the graphs.
Different Strokes for Different Folks
Different portions of the population have different unemployment rates. If you’d expect to see every group’s unemployment change at the same rate, unemployment would be plotted as a family of lines. Instead, however, some groups are finding work, while other groups are still losing jobs. If you look at the statistics, education plays a large role in determining who is able to find a job and who gets stuck. High school dropouts have the highest rates of unemployment. In 2012, 12.4% of dropouts who wanted to work couldn’t find a job. This number doesn’t include those who were working part time but wanted a full-time job or those who needed a better job than the one they currently had. Meanwhile, only 8.3% of people with a high school diploma, 6.2% of people with an associate’s degree, and 4.5% of people with a bachelor’s degree were unemployed in 2012.
While graduates with two- and four-year degrees are more easily finding work, the unemployment rate for dropouts hasn’t started going down. In fact, it usually rises at the end of summer, as seasonal jobs end. As the economy starts to recover, many experts continue to insist that colleges and technical schools hold the keys to employment and success.
Watch the videos at the first two links below to learn more about variations in unemployment, and check out the following article for some career tips for the modern age.