The U.S. Census Bureau said today that in the final months of 2011, a typical college grad earned three times more than a high school dropout in the same time period.
While this may seem like a logical pay difference, some estimates say that 50 percent of college grads are in jobs that do not require a college degree.
The value of a college education has come into question recently due to inflating tuition costs, increases in student-loan debt, and the high unemployment rate. College graduates no longer feel like they are always in a great position to find a job worthy of their degree.
So the news that a college grad will likely earn more than a person who did not graduate high school is nice to hear, even if the job search is not going well for many college seniors.
The Wall Street Journal reported that the unemployment rate for adults with a Bachelor's degree was 3.8 percent in February, while the national rate was 7.7 percent. The unemployment rate for people without a high-school diploma is 11.2 percent, while high school grads who did not attend college faced a 7.9 percent rate.
The U.S. Census Bureau also released data on the highest and lowest earning majors late last year, giving more encouragement to some college students, and taking away from others. Engineering majors and computer science majors earn the most on average, while education majors earn the least. For a class that is full of business, politics, and journalism majors, among other liberal arts topics, all we can do is hope that our degrees provide us jobs and a steady income.
Emily Mosh
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