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SCHOOL IS A JOB

This article explores the relationship between education, earnings, and unemployment rates. It highlights the importance of obtaining a high school diploma and higher education degrees for better job prospects and financial stability. The article also addresses the consequences of low education levels on individuals and society as a whole.

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SCHOOL IS A JOB

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  1. SCHOOL IS A JOB

  2. Education Earnings Source: Education Pays 2004, College Board

  3. UNEMPLOYMENT RATE IN 2001 Education Earnings Versus Unemployment Rate PROFESSIONAL DEGREE DOCTORATE MASTER’S DEGREE BACHELOR’S DEGREE ASSOCIATE DEGREE SOME COLLEGE NO DEGREE HIGH SCHOOL GRADUATE LESS THAN HIGH SCHOOL MEDIAN EARNINGS IN 2003

  4. Ohio’s High School Graduation Rate1996-2004

  5. Distribution of Jobs by Education Level 1973 % Source: American Diploma Project Network

  6. Projected Increases in Job Openings by Education or Training Required - United States, 2002 -2012 Percent Source:, 2005, SREB

  7. Distribution of Jobs by Education Level 2001 % Source: American Diploma Project Network

  8. Distribution of Jobs by Education Level 1973 % Source: American Diploma Project Network

  9. Distribution of Jobs by Education Level 2001 % Source: American Diploma Project Network

  10. Other Drop Out Facts • High school dropouts are eligible for only 9% of new jobs. • Girls who drop out are more likely to have children at a young age and be single parents. • Drop outs are more likely to be involved in risky behavior. Of state prison inmates 75% do not have a high school diploma and 59% of federal prison inmates did not complete high school. Bureau of Justice Statistics Special 2003

  11. Main Points: • The economy is rapidly changing. • Economic prosperity (employment opportunity, competitive salaries, progressive public investments) is dependent on knowledge-based jobs. • The Issue: • Ability to compete in this economic environment demands ever larger numbers of highly-trained and educated workers.

  12. The Slippery Slope Low education levels Low wages, high poverty, high drug & alcohol use, teen pregnancy, one-parent family Diminished health High crime Lost tax revenues Increased costs for social programs, jail, unemployment Diminished quality-of-life, early death rate A Lifetime of Regret

  13. Smart Move #1:High School Diploma vs. No Diploma A high school diploma is the best investment any student can make. A dropout can expect to earn $18,734 a year--the average income for all people with no high school diploma or GED. According to 2003 Census Bureau statistics, those who complete high school are looking at an average income significantly higher: $27,915. That's over $9,000 for staying in school an extra year or two. Over time, that annual $9,000 gain from a high school diploma mounts up. Future Value $1,102,700

  14. Smart Investment Move #2:Undergraduate Degree • The two-year associate's degree is also a solid investment, assuming the standard 40-year work life and online study. When averaging typical costs at campus-based and fully online colleges, outlay for an associate's degree runs around $26,400 • Associate's Degree vs. High School DiplomaFuture Value $785,700 Quick Fact: "In 1980, bachelor's degree-holders earned 60 percent more than workers with only a high school diploma. More than 20 years later, the income gap has increased to a nearly 88% disparity."

  15. Bachelor’s Degree • Adding the bachelor's to the associate's degree is an even better investment. Since undergraduate degree credits cost the same, expenses for an additional two years in an online program should be as above. Here's the additional payoff:Bachelor's Degree vs. Associate's DegreeFuture Value $1,656,100 • Bachelor's Degree vs. High School DiplomaFuture Value $2,441,800

  16. Smart Investment Move #3: Get an Advanced Degree • These numbers reflect the typical three- to four-year time-to-degree for master's study. Nevertheless, finishing by age 30 (with a 35 year work life) still yields lifetime payoff over a million and a half. Master's Degree vs. Bachelor's DegreeFuture Value$1,520,900 Quick Fact: "Earnings for the group with more education are always higher, rise and fall more steeply, and peak at later ages than do earnings for the group with less education." Social Security Bulletin 66.1 (2005/6)

  17. An Ohio Crisis: Few Students Graduate, Few Students Earn College Degree For every 10 students who start high school 8 will get a diploma 5 will eventually enroll in a postsecondary institution 2+ will leave by the end of 2 years without a degree or certificate Of those who continue, 2to 3 will have a degree within 10 years of graduation

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