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Fall 2004 Vol. 48, Number 3

More education: Lower unemployment, higher pay

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Staying in school can do more than improve your mind. It can also improve your chances of being employed and having high earnings.

As the data show, the unemployment rate falls and earnings rise for people who have more education. The differences are stark between the highest and lowest educational levels. But completing a program, whether it’s finishing high school or getting a degree, is important at every level. This may be because employers view the ability to earn an academic credential as an indicator of assets—such as organizational skills and aptitude—that a potential worker will bring to the job.

Educational attainment is not the only factor affecting employment and earnings, though. At every educational level, whether jobseekers are successfully employed may hinge on issues ranging from an occupation’s size to geographic location. And workers’ earnings vary by type of training and choice of occupation, among other things.

 

 

More education: Lower unemployment, higher pay

 

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U.S. Department of Labor
Bureau of Labor Statistics

Last Updated: March 29, 2005