[Magdalen] Gap year (or more)

[Roger Stokes]

On 03/06/2015 16:21, Jim Guthrie wrote:
> Let's be clear:
>
> The unemployment rate for high school only (as well as high school 
> plus college)
> is 6%.
>
> For those with an Associates Degree it's 4.5%
>
> For those with a Bachelor's it' 3.5%
>
> See http://www.bls.gov/emp/ep_chart_001.htm

I would want to know what level jobs these graduates are in and how 
permanent they are.  My son graduated in 2002 and eventially found a 
permanent job, but it doesn't really have a career path so this 
September he is retraining as a teacher.  I have also seen it suggested 
that some colleges may boost their graduate employment rates by offering 
short-term positions at relatively low salaries to their alumni who have 
not secured a "proper job" a few months after graduation.

The other thing one needs to look at is lifetime earnings.  The high 
school graduate who enrols in a four year degree course is giving up the 
difference between what they could earn as a full-time employee and wat 
they can get in a part-time position.  Depending on the course they are 
taking, how long will it take to recoup that lost salary?  If more 
people go to college then the law of supply and demand means that the 
"graduate premium" in salary will reduce.  In some cases they will never 
recoup that lost salary.

Roger