From the course: Economics for Everyone: Job Markets and the Economy
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Value of education
From the course: Economics for Everyone: Job Markets and the Economy
Value of education
- When it comes to the job market, there's one big takeaway. The more you learn, the more you earn. Official US government data from 2019 reflect that earnings are positively correlated with education. The more formal education you have, the more money you make, and your wages increase with each level of education. The same data also shows that the unemployment rate is inversely correlated with education. In other words, the more education you have, the less likely you are to be unemployed. And this is true at every level of formal education from less than a high school diploma, to getting that diploma, and then from high school diploma to some college, all the way up to PhD. When I was younger, people asked me if I wanted to be a professional student, and they meant it as a slight. But today, every business person, every business leader is expected to be a professional student. Education is a great equalizer when it comes to…
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