Why do College Graduates Earn Higher Wages?
In 2007 the typical college graduate earned roughly twice as much as the typical high school graduate. There are two explanations for the college premium. The first explanation is based on supply and demand analysis. A college education provides the skills necessary to enter certain occupations, so a college graduate has more job options than a high-school graduate. Both high-school grads and college grads can fill jobs that require only a high-school education, so the supply of workers for these low-skill jobs is plentiful, and the equilibrium wage for these jobs is low. In contrast, there is a smaller supply of workers for jobs that require a college education, so the wages in these high-skill jobs are higher than the wages for low-skill jobs. This is the learning effect of a college education: College students learn the skills required for certain occupations, increasing their human capital.
The second explanation of the college premium requires a different perspective on college and its role in the labor market. Suppose certain skills are required for a particular job, but an employer cannot determine whether a prospective employee has these skills. For example, most managerial jobs require the employee to manage time efficiently, but it is impossible for an employer to determine whether a prospective employee is a good manager of time. Suppose that these skills are also required to complete a college degree. For example, to get passing grades in all your classes, you must be able to use your time efficiently. When you get a college degree, firms will conclude that you have some of the skills they require, so they may hire you instead of a high-school graduate. This is the signaling effect of a college education: People who complete college provide a signal to employers about their skills. This second explanation suggests that colleges simply provide a testing ground where students can reveal their skills to...
...March 29-31 2005 via email to find out the factors for graduate unemployment. The factors are weak English which is 56%,bad social etiquette 36%,demand too much pay 32%,degrees not relevant 30%,fresh grads too choosy 23% and no vacancies 14%
So I am here today to give all of you view what is actually causes of this unemployment that have become serius problem in our country nowadays
First off all,I would like to explain what is actually graduate umemployment means.
Unemployment occurs when a person is available to work and seeking work but currently without work,graduates are unable to secure job after graduating from respective universities and collage universities.Graduate unemployment is unemployment among people with an academic degree.Researchers have voiced that higher education institutions, the job market and the needs of the labor market for graduates are different in comparison to twenty years ago.
Statistic shown that most of the umemployed graduates are from IT-related fields, and breakdown of the umemployment graduates are,Malay 96.33%,Chinese: 1.73%,India:1.70%,and Others:0.24%.
First causes unemployment in Malaysia is lack of experience.
Ladies and gentleman,
Nowadays, the employer will find the worker who had a lot of experienced one compared to the one without experience. Lack of experience and skills are also causes of graduate...
Is College Worth it?
Everyone in the United States wants to achieve the “American Dream”. People want to be able to provide a stable life for their families. A college education has been a must to grow in the work industry. But during this economic recession, college students have been having a difficult time staying in the college path, especially working class students. The lack of moral support from their families prevents these unfortunate students to finish their college education. The increase of college tuition and limited financial aid are causing students to go into debt, making them hesitant whether they should keep studying or not. Also it’s preventing students from picking needed major but because the low paycheck they are not sure if they will be able to be sustained. But college drop outs also can able be due to the unequal college preparation given in high schools. The education system needs to be reformed so students have the opportunity to choose whether they want to go to college or do vocational training instead. A college degree is bringing more negative aspects into a student’s life therefore students, especially from working class, must know the alternatives to be able to succeed.
Most of the students in the United States are middle or working class. In addition of going to school, working class students...
...Why Should Scholarship Athletes Be Paid?
Recently in the news, there was a report on the five University of Kentucky basketball players that decided to enter the NBA draft after only their freshmen season. Sure, they were told of the millions of dollars they could make in professional sports, but were they given the odds of them even reaching that big payday? From picks 5-10 in the draft, the success rate of the player becoming a league average starter is about 30%, then for the rest of the first round, picks 11-30 have around a 10% chance (Thread:15 year Basketball Analysis). But even after given the odds, most of the players will choose to enter the draft because if they continue to play and attend college, they could hurt themselves and lose out on all the money. But what happens when the athlete doesn’t make it? Then he becomes just another person in his early 20s without a college degree, looking for a job. But what if colleges were to offer the players an added incentive to stay, promise a type of salary so the athlete could make some extra money to help with his tuition cost, maintain a social life, and stay in school to finish his degree? Because even on a full scholarship, it does not cover the entire cost, the IRS taxes the scholarship leaving the player about $3,200-$3,500 short a year. This is why paying college athletes makes sense, because it will help keep young adults...
Why the Minimum Wage Should Be Raised
Minimum wage is the minimum amount that an employer can pay their employee. In the United States, many people are greatly affected by the federal minimum wage. Poverty continues to increase in the United States. Currently it is at seven dollars and twenty five cents which is too low in the current world today. The minimum wage is under debate if whether it should be increased. The debate has been brought about since many people are earning the minimum wage and are dissatisfied. Debate of whether the minimum wage should be raised is currently taking place. Finding the perfect minimum wage that will be good for both the employee and employer is a process and it has been an important controversial issue for many decades. The minimum wage was last increased on the 24 of July, 2009 at the federal level. It increased from six dollars and fifty five cents to seven dollars and twenty five cents (Levin-Waldman, 2001).
Every morning people go to work so that they can be able to afford a good life for them and their families. No one who is working full time should be living in poverty. This makes the essence of working to lose meaning. In 1968, the minimum wage was high enough to cater the needs of a family of three comfortably keeping them out of poverty. In...
...Against a Higher Minimum Wage
raising the minimum wage hurts the poor. It takes away jobs, keeps people on welfare, and encourages high-school students to drop out. Policy makers should be clear on the consequence of higher minimum wages.
Jobs and the Minimum Wage
Economists have studied the job-destroying features of a higher minimum wage. It is important to recognize that the jobs lost are mainly entry-level jobs. By destroying entry-level jobs, a higher minimum wage harms the lifetime earnings prospects of low-skilled workers.
Side Effects of Raising the Minimum Wage
It has been well documented that the minimum wage destroys jobs, particularly the jobs of low-skilled, young workers. However, there are other equally pernicious side effects of higher minimum wages. Higher minimum wages make it more difficult for people to leave welfare and induce high-school students to drop out.
Dr. Peter Brandon of the Institute for Research on Poverty studied how raising the minimum wage affect the transition from welfare to work.  He found that raising it keeps welfare mothers on welfare longer. Mothers on welfare in states that raised their minimum wage remained on welfare 44 percent longer than mothers on...
F. A. HARPER
THE FOUNDATION FOR ECONOMIC EDUCATION, INC.
IRVINGTON-ON-HUDSON, N E W YORK 1957
Copyright 1957 by F. A. HARPER Permission to reproduce from this book, without special request, is hereby granted by both the author and publisher. Information about uses will be appreciated. Library of Congress Catalogue Card No.: 57-6929.
PRINTED IN U.S.A.
INTRODUCTION 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. LABOR UNIONS PRODUCTIVITY DIVIDING T H E P I E TOOLS T O HARNESS ENERGY DOING WHAT YOU CAN D O BEST T H E LUBRICANT FOR EXCHANGE CONTRACTING F O R PROGRESS . . . . . . . . . . . . . 5 9 14 19 28 35 43 53 63 72 84 95 . . . 107 120
THE COST OFBEING GOVERNED .
LOSING PAY THROUGH FRINGE BENEFITS . LEISURE AND THE B E T T E R L I F E . PRICING AN HOUR OF WORK RIDING THE WAVES O F BUSINESS . . .
Charts and Tables
WAGES AND UNION MEMBERSHIP CHANGES IN PRODUCTIVITY AND WAGE RATES ENERGY OUTPUT REAL AND UNREAL WAGE RATES 11 16 34 57
WAGE TRENDS: BUYING POWER BEFORE AND AFTER TAXES 68 LEISURE AND BETTER LIVING EFFECTS OF PRICE FREEDOM WAGE LEVEL AND UNEMPLOYMENT UNEMPLOYMENT; SHARES OF NATIONAL INCOME INSTABILITY OF BUSINESS 90 97 104 110 115
are of prime importance in any advanced economy such as ours. They affect us all far more than seems evidenced in our concern about them. Everyone buys...
EN110.6.1 Achieving Academic Excellence
Lesson 5 Writing Assessment
September 26, 2014
Why Is A College Education Important to Me?
Henry Ford, said, “Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.” For years, I thought I was just too old to return to school. However, for 20 years, I’ve worked in a career that provided great financial stability, but it never brought happiness. When I was laid-off, I made the decision to not return to the corporate world; instead, I started my process of becoming a successful counselor and motivational speaker. Spending time with my family and doing what makes me happy are my overall goals in life. So here I am forty-one and enrolled in college.
According to the National Center for Education Statistics the number of middle-aged people in college, graduate school or technical school is projected to rise to 4.1 million by 2015. I am proud to be a part of this statistic. I believe we can’t look back at what we should have done; we need to move forward and make the best out of what we can do now. This past June, I attended DePaul University School for New Learning Commencement Ceremony. Tecora Rogers, a 59 year old Masters Graduate gave the graduating class commencement address. While, I wish I can share her entire speech, the following is what stuck with me most. “For years I have worked...
...WhyCollege is Worth the Money
Right now in our society a college education is no longer an option or privilege, but rather a necessity. We are practically raised and conditioned to believe that one needs higher education in order to succeed in life. There is a saying that says "if you think education is expensive, try ignorance." Nowadays, going to college is common in United States. According to the statistic, there are more than 70 percents of the student are going to college after high school graduation. After high school millions of kids get a start in life without any higher education. Going to a college or a university of some sort is one of the wisest choices a person can make. Does the time and effort that individuals put into education pay off? Economists have been investigating these questions since the late 1950s. The answer to that question is Yes! There are many reasons why you should continue your education after high school. A college education gives you choices. Whether you plan to attend a four-year college or university, community college, or technical school, you will gain knowledge and skills that will help you succeed for the rest of your life. Education beyond high school will put you in a better position to help your family, your community and give you the kind of life you dream of...