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The institutionalizing of professional education has resulted in fewer and fewer opportunities for young people to work their way up by "learning on the job". Academic inflation leads employers to put more faith into certificates and diplomas awarded on the basis of other people's assessments. [32]
Graduate unemployment, or educated unemployment, is unemployment among people with an academic degree.. Aggravating factors for unemployment are the rapidly increasing quantity of international graduates competing for an inadequate number of suitable jobs, schools not keeping their curriculums relevant to the job market, the growing pressure on schools to increase access to education (which ...
Just over a third of Americans ages 25 and up had a bachelor’s degree in 2022. The unemployment rate for those 25 and older with a high school degree, but no college, is nearly twice as high as ...
One explanation posits that tuition increases simply reflect the increasing costs of producing higher education due to its high dependence upon skilled labor.According to the theory of the Baumol effect, a general economic trend is that productivity in service industries has lagged that in goods-producing industries, and the increase in higher education costs is simply a reflection of this ...
New college graduates are entering an economy full of service-sector and part-time roles that don’t require diplomas, but their prospects still aren’t half bad.
For bachelor's degrees, fine arts, education, and biology programs had the lowest median ROI, while engineering, computer science, and nursing degrees gave students the highest long-term rewards.
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies. From early works on the relationship between schooling and labor market outcomes for ...
Let’s take a closer look at the average salary by education level to see what dividends education pays.