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On virtually every measure of economic well-being and career attainment—from personal earnings to job satisfaction to the share employed full time—young college graduates are outperforming their peers with less education.
The pay gap was significantly smaller in previous generations. But do these benefits outweigh the financial burden imposed by four or more years of college? Among Millennials ages 25 to 32, the answer is clearly yes: Of course, the economic and career benefits of a college degree are not limited to Millennials.
Overall, the survey and economic analysis consistently find that college graduates regardless of generation are doing better than those with less education. To be sure, the Great Recession and the subsequent slow recovery hit the Millennial generation particularly hard. On some key measures such as the percentage who are unemployed or the share living in poverty, this generation of college-educated adults is faring worse than Gen Xers, Baby Boomers or members of the Silent generation when they were in their mids and early 30s.
The first is a nationally representative survey conducted Oct. The CPS is a large-sample survey that has been conducted monthly by the U. Census Bureau for more than six decades. Specifically, Pew analysts examined CPS data collected last year among to year-olds and then examined data among to year-olds in four earlier years: At the same time the share of college graduates has grown, the value of their degrees has increased.
Taken together, these two facts—the growing economic return to a college degree and the larger share of college graduates in the Millennial generation—might suggest that the Millennial generation should be earning more than earlier generations of young adults.
The Declining Value of a High School Diploma The explanation for this puzzling finding lies in another major economic trend reshaping the economic landscape: The dramatic decline in the value of a high school education. This decline, the Pew Research analysis found, has been large enough to nearly offset the gains of college graduates.
The steadily widening earnings gap by educational attainment is further highlighted when the analysis shifts to track the difference over time in median earnings of college graduates versus those with a high school diploma.
Other Labor Market Outcomes To be sure, the Great Recession and painfully slow recovery have taken their toll on the Millennial generation, including the college-educated. Young college graduates are having more difficulty landing work than earlier cohorts.
They are more likely to be unemployed and have to search longer for a job than earlier generations of young adults. But the picture is consistently bleaker for less-educated workers: On a range of measures, they not only fare worse than the college-educated, but they are doing worse than earlier generations at a similar age.
For example, the unemployment rate for Millennials with a college degree is more than double the rate for college-educated Silents in 3. But the unemployment rate for Millennials with only a high school diploma is even higher:AGBU Fellowships for U.S. Based Study. Award: $7, Applicant must be of Armenian heritage, be a full-time graduate student seeking a master's or doctorate degree at a highly- or most-competitive U.S.
institution, and have a minimum GPA in undergraduate work. "Don't rush into a four year college right away; instead, stop and consider the financial and time commitments involved. Strongly consider community college.
Grove City College is a distinguished Christian institution committed to academic excellence, Christ-centered community, and exemplary value.
Latest News Allison and Williams reappointed to Central Piedmont board Judy Allison of Charlotte and Richard “Stick” Williams of Huntersville have been reappointed to the Central Piedmont Community Nov 14, Gambrell Foundation Grant will provide Central Piedmont students pathway to economic mobility The Gambrell Foundation of Charlotte has pledged $1 million to Central Piedmont.
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Lone Star College was founded in and offers Associate Degrees, Workforce Certificates and Transfer Credits.