how does education reduce unemployment
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Answer:
Percentage of the US civilian noninstitutional population (ages 25 and older) that was employed, September 2019, according to education level:
44%, did not graduate from high school.
56%, high school graduates with no other education.
63%, some college or a two-year degree.
72%, bachelor’s degree and higher.
Employment is much more common among better-educated people, stunningly low among the least educated.
Percentage of US adults not counted in the labor force (and not counted as unemployed), September 2019, according to education level:
54%, did not graduate from high school.
42%, high school graduates with no other education.
35%, some college or two-year degree.
26%, bachelor’s degree and higher.
Source: Databases, Tables & Calculators by Subject
(Important and substantial differences exist between male and female employment conditions, but the BLS database wouldn’t allow me to pull these data by gender.)
More than half of American adults who didn’t graduate from high school are not counted in the labor force, compared with one-quarter of college graduates. To be included in the labor force, people must be willing to work and actively pursuing a job. Those who have given up looking are not counted as unemployed, but they are visible in the above statistics.
Some people who aren’t in the labor force are excluded for reasons other than employability. Retired people are not counted as unemployed, for example, nor are stay-home parents. People who are incapable of work are excluded from the labor force.
These numbers also include a large number of people who are able to work but aren’t working. Most of those people are less educated and thus qualified to pursue a smaller set of jobs. Some can’t find appropriate work; others don’t like the jobs available to them.
These numbers do not mean lower-skill jobs aren’t being created. In its latest employment projections, the BLS counted 22 high-demand occupations (more than 50,000 job openings over the next decade) with modest education requirements.
Many of these jobs pay less than $30,000 a year, none as much as $60,000, and there’s the rub. We’re talking about difficult jobs, often including manual labor, that do not pay well for the effort. (Source: Occupation Finder). It is troubling to me that so much of our job creation is expected to fall in low-skill, low-pay occupations.
The BLS counts 11 high-demand occupations that pay more than $80,000 per year, and all of them require college degrees. Another two-dozen high-paying occupations are highly specialized and growing much faster than average. All require college education.
Unemployment rates are extremely low at this point in American history, after 10 years of economic recovery and expansion. Employment/population ratios, on the other hand, are nowhere close to record highs. A large number of people feel locked out of the labor force because their skills and experience do not fit the jobs available in their areas.
In their case, more education would mean more employment, but we cannot escape this chronic mismatch between quality of jobs and temperament of workers.
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