Guess Who’s Weathering the Great Recession Better Than You Thought

“Great Recession,” eh? Talk about destroying the value of words by not using the right ones. Can you spell “D-E-P-R-E-S-S-I-O-N,” boys and girls? We sure can. Anyway:

College Grads vs. High School Grads in The Great Recession – by Alex

Is college worth the cost? Earlier this week, Georgetown University released a report about how education levels impact employment prospects:

Since job growth resumed in early 2010 with the end of the recession, employment by those with a Bachelor’s degree or better has increased by 2 million, while employment by those with an Associate’s degree or some college experience has increased by 1.6 million. Those with some college education or an Associate’s degree have recovered nearly 91 percent of jobs lost during the recession, but are still short of their prerecession employment levels (See Table 1). In contrast, people with a Bachelor’s degree or better have experienced a net increase of 2.2 million jobs over their prerecession levels.

Those with only a high school diploma or less continue to experience job losses, though in much smaller numbers […]. In part this is due to the financial bubble that created a corresponding bubble in housing and construction jobs. When the housing market recovers, the construction industry will create some demand for workers with a high school diploma or less. Yet, it is hard to expect any substantial job gains in the near future for job seekers with no postsecondary schooling.

Read the report here: The College Advantage: Weathering The Economic Storm [pdf] – via The Atlantic

Hey, fellow college grads, looks like we made out like bandits. But we have a couple of questions:

  1. How many of those with Bachelor’s degrees were Film, TV, Media, or just plain Liberal Arts majors?
  2. How many of those 187,000 new jobs that college grads got were in that lovely little arena called “Writing?”

Yeah, that’s what we were afraid of.

4 thoughts on “Guess Who’s Weathering the Great Recession Better Than You Thought”

  1. Thanks, Larry. Although I’m nowhere on the chart, I downloaded the article. I might use it to convince my daughter that her dad’s money putting her through several schools for three degrees earns me some respect…. Or not.

    1. Don’t assume that the degree people have is what they’re working in. I have a music degree but I don’t play anymore, nor use that education for my day job. The point of the article is get a degree doesn’t matter in what, college isn’t about giving you skills it’s about teaching you how to think.

      1. millady, the source material for the article certainly says that those with a college degree are doing better in the current economy than those without one, but I didn’t read it as presenting the idea that college teaches you how to think.If does point out that:
        “Employers favored the more educated in most industries during recession…Men lost more jobs, but women lost a larger share of their jobs in most industries…New jobs in nearly all industries are demanding more education…[and]Men with more education are making inroads into formerly women-dominated industries….” But the only thing coming close to a “why” for all this is “new jobs in nearly all industries are demanding more education….”

        I definitely agree with you that, for the most part, colleges don’t give their students job skills, but in my experience not only is that the case but colleges seem to have done a *terrible* job of teaching most of its students how to think.

        Of course, my evidence is anecdotal, based on way too much time spent with college grads whose life/career choices (and, if they’re GOP politicians) public utterances prove beyond any doubt that can’t think at all.

        Glad to have you join us here, millady. (And you can call me Sir Larry.)



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