Employment Outlook Good for US Graduates
"If you want a job and you're a college grad, you can get one," is the smart—only somewhat overstated—observation that Roy Krause, head of staffing company Spherion, just imparted to me over the phone. Indeed, college grads had just a 2 percent unemployment rate in June, according to new Labor Department data, vs. 3.5 percent for those with "some college," 4.1 percent for high school grads, and 6.7 percent for those who did not finish high school.Source
More good news came from the June income numbers: Real wages for workers—not managers—increased by 3.9 percent, year over year. Deflate by the core May inflation rate of 2.3 percent—the latest numbers available—and you get real wage growth of 1.6 percent. Not too shabby. Right now, Wall Street recession expectations are pretty low. "The threat of recession has abated, as job and income gains provide the wherewithal to support consumer spending," is the analysis of former Federal Reserve governor Lyle Gramley. In fact, the Big Money Crowd is more worried about China than U.S. housing as a source of future trouble.
In reality, it is very possible for high school dropouts in the US to become millionaires within 20 years, if they use discipline and good sense. Of course, those are not attributes generally applied to high school dropouts. The sad truth is, however, that a high school dropout or graduate could easily achieve a higher paying job than many college/university graduates by learning a useful trade and traveling to where the high paying jobs are. In other words, in the US economy, being useful can easily be more important than having a lot of letters behind your name.
In fact, in a general atmosphere of academic lobotomy and psychological neoteny, the sooner a strong-minded and ambitious person strikes out on his/her own, the better. Parents should consider what they would want their children to know, should they step out into the real world at the age of 18 or 20, and begin teaching them when they are young.
Labels: Academic lobotomy, economics, employment, Psychological neoteny



















