HomeEducation pays. That's what the U.S. Bureau of Labor Statistics says. People with more education make more money. That's not a big surprise. But they also are less likely to be unemployed. Who has the highest unemployment rate and lowest pay rate? People without a high school diploma. When unemployment grows, those without a high school diploma suffer most. The GED is a chance to earn a high school diploma, but more than that, it opens doors to the higher education that's so valuable in today's job market.
Take a look at unemployment rates in 2008. No high school diploma? The unemployment rate was 9%. Among high school graduates, it was only 5.7%. That's lower by more than a third. What if you earned a 2-year Associate degree at a community college? The unemployment rate was only 3.7% among people with Associate degrees. The more education you earned, the lower your chances of being unemployed. That means education equates to jobs.
But what kind of jobs? That's where income comes in. Among people 25 and over who had full-time jobs, the median weekly income for people without a high school diploma was $426 in 2008. With a high school diploma, it jumped to $591 a week, an increase of nearly 40%. With that 2-year Associate degree, median income $736 a week. More education equates to better paying jobs.
According to 2008 figures from the U.S. Bureau of Labor Statistics, adults with less than a high school diploma had a 9% unemployment rate, and earned a median income of $426, among those with jobs. High school graduates had only 5.7% unemployment, and earned $591. Those with some college who didn't graduate had 5.1% unemployment and earned $645. Those with an Associate degree had only 3.7% unemployment and earned $736. Those with a Bachelor's degree had 2.8% unemployment and $978 weekly earnings. A Master's degree? 2.4% unemployment and $1,228 weekly earnings. Those with a professional degree had the lowest unemployment, 1.7%, and weekly earnings of $1,522. Those with a Doctoral degree had 2.0% unemployment and the highest median earnings, at $1,555 per week.
The opportunities that education gives you are too good to pass up. If you don't have your high school diploma, look into the GED. You can get more education, and more education means more opportunity.
