Read the entire article here.
In a recent post from Liberty Street Economics, Jaison R. Abel and Richard Deitz show that ". . . a good number of college graduates earn wages that are not materially different from those of the typical worker with just a high school diploma. This suggests that, at least from an economic perspective, college may not pay off for a significant number of people. . . . . This means that the wages for a sizable share of college graduates below the 25th percentile are actually less than the wages earned by a typical worker with a high school diploma. "
Read the entire article here. By Jeff Green and John Irwin in Bloomberg News, August 25, 2014
Two years out of high school, Evan Fischbach is earning $40,000 a year. His secret: shop class. Fischbach, 19, has known he wanted to work on cars ever since he took an automotive class in his junior year of high school in Saline, Michigan. His college-educated parents wondered if he was aiming too low. Then when Fischbach was still a junior, a local auto dealer desperate for mechanics hired him as an apprentice in the service bay. Now he’s earning about three times as much as the average 19-year-old high school grad and slightly more than the national median, according the Bureau of Labor Statistics. “Friends weren’t interested in auto shop when I suggested it and now I think they wished they had tried it,” said Fischbach, who works at the LaFontaine Chrysler Dodge Jeep Ram dealership. “I’m not rich, but I’m not hurting, either.” |
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