Education Relative to Income and Unemployment

Paper Summary:

This paper argues that landing a high-income job is directly related to having a high educational background; and conversely, having little or no education is directly related to low income, and worst of all, unemployment. It shows how education after high school is not only becoming more popular, but also demanding. The paper provides many statistics and data to back up this claim. Includes graph.

From the Paper:

"The importance of education has been emphasized since days of old. Education is usually regarded as the single most important determinant of a person's economic and social success. Education is linked to the happiness of an individual. The more education one pursues, the higher the income they will receive. In return, higher income brings forth private benefits. A person with a college degree, compared to a person with only a high school diploma, has a better chance of landing a white-collar job with a higher salary. Most people would rather have a "laid back" job that doesn't involve hard labor. Jobs like these are healthier on a person's body compared to blue collar work. With a high income, an individual usually gets better medical benefits and more social security to retire. Also, since education is linked to income, the personal commodities a person wishes to have for themselves is raised by higher education. Thus, education brings forth opportunity in the workplace. With a high educational background, a person has the opportunity to move up in position with a company, because he/she is properly trained."

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