University of Chicago
Type of paper: Thesis/Dissertation Chapter
The importance of education for students, companies and the US economy
The requirements for getting a job nowadays is way more demanding, compared to what it used to be like back in the 70’s. Today and in the not to distant future, almost all jobs will require some kind of more extensive education which means “just” a High School education will not suffice. A lot of citizens in the United States do not have the resources to send their children to a decent College, which results in a poorer future for the next generation. Michelle Obamas’ life is a perfect example of a true fighter. Her father was a pump worker at the City of Chicago Waterworks, and even though he did not have a lot of money, Michelle graduated from Princeton University and Harvard Law School. She made it to the top, thanks to her willpower and the achievements she earned and worked for. In addition to this beautiful story, before Washington she actually used her résumé after she finished her education. She worked at a law firm and a health care executive in the Windy City. Mrs. Obama is going to work with the Education Department to help her husband achieve his 2020 goal for the US – to vault the current ranking place at number 12 to number 1 in the percentage of college graduates.
As mentioned in “Michelle Obama Edges Into a Policy Role on Higher Education”, the year 2020 almost 66% of all jobs will require some form of training beyond a High School education. Mrs. Obama recommends that all students take some kind of higher education to be able to not only help the country, but also provide for themselves and their possible future families. The primary group of people looking for work is between the ages of 18 to 31, which is odd because the job market was supposed to be better after the recession was over. But in fact, the job growth is moving very slowly, and that affects the young educated people. In the year 2012, a lot of young adults between the ages of 18 to 31, had to move back home to their parents because they could not make it on their own – to be more precisely, 1 in 3 had to move back home. The United States was supposed to be recovering economically from the great recession, but since the fact that young people tend to change jobs often, which is not something the older workers do, so they jump from one market to another which results in lack of work experience in the different markets. Many employers seek an employee that possesses experience from other jobs, which makes it harder for college graduates to find a job since they do not have any experience in the job market due to their long-term education.
That means they have to get some experience and that would mainly result in a unpaid internship. Unfortunately, a lot of people do not have the financial resources to go 6 months or perhaps a year without getting a paycheck. It is a real paradox that everyone tells you that you have to get a college education to do better in this life and in this country. But what you really end up with is a lot of debt and will end up doing something that people with High School educations or maybe less does. A survey proves that 50% of all college graduates are doing something that has no requirement of a college education, for example at a fast food chain. You do not finish a four-year education just to work at a McDonald’s.
It is clear that a High School education will not suffice in the future. This will leave a great percentage of young people deprived of the necessary skills and training they need to enter the job market and get a solid salary. A lot of High School students drop out to try and make it on their own as an individualist. This translates into lost earnings and judicial and welfare costs, which possibly will lower the standard of living for a society. According to estimates, a High School dropout will cost the government approximately 292.000 dollars, of course in the long run of an average worker.
To sum this up, USA’s main issue is amongst the young adults in the ages of 18 to 31. Unemployment naturally also exists in the age above 31, however that number is not even close to tie up with the young adults. The President of The United States and The First Lady are doing everything with the power they possess, to get this issue sorted out within the next 7-8 years. The situation that college graduates are right in the middle of is probably the toughest part of their life, until they can find a solution to this mess.