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Most Millennial college grads are employed and doing well; however, those who graduate from college in the lowest quartile aren't. Smarts matter, not the piece of paper degree.
The unemployment rate of college graduates ages 25 and older was 2.9 percent in September 2014, compared with 5.3 percent for high school graduates and 8.4 percent for those with less than a high school diploma, according to Labor Department figures.
Young adults with a bachelor’s degree earned a median $46,900 in 2012, compared with $30,000 for those with a high school diploma and $22,900 for adults without a high school credential, data from the National Center for Education Statistics show.*
However, the median annual wage for the bottom 25 percent of college graduates is little different than high school graduates’.*
*Bloomberg, "Millennials Most-Educated U.S. Age Group After Downturn: Economy
By Victoria Stilwell" Oct 8, 2014
Agree and more or less expanding on your point. It stands to reason that those who graduate college in the lowest quartile had also graduated high school in the lowest quartile (and probably shouldn't have gone to college).
I think the problem is that the aptitude of today's lowest quartile is severely degraded as compared to prior generations. A combination of the degraded quality of primary and secondary education (thanks DOE) and the lowering of the bar for college acceptance (perhaps the drive for this not only defers failure for the ill equipped student, but allows colleges to 'grow their business').
shows (and I think their figures are a little high) that nearly 60% of freshmen require remedial coursework in order to gain a foundation to tread water with post secondary coursework. Remedial course work requirements should be 0%.
Last edited by AKA Bubbleup; 12-05-2014 at 07:56 AM..
Reason: sp
Middle class nowadays as almost like affluent class in the 1970s if you compare automobiles, housing, leisure and entertainment, etc.
This is so, so true! Standards of living now are way higher than what was normal middle class during the growing up years for the boomers, mainly because of cheap, accessible, easy credit. Seems people forget that.
Educated in what? Are they attaining more degrees in engineering, science, medical, computer science and other very important fields?
Actually they are, especially as a percentage of 4 year degrees.
Back in the 70's most healthcare workers did not have 4 year degrees. Most nurses did not. Most of the healthcare jobs that now exist did not, in the 70's.
Today, a Physician's Assistant or Nurse Practitioner can perform most of the functions previously performed by a General Practitioner. PAs and NPs have advanced degrees and with a few years of experience and a willingness to relocate to areas with MD shortages, can and do command 6 figure salaries and do so in their 20's
Back in the 70's most employed in technology did not have 4 year degrees, let alone a degree in Computer Sciences. COBAL paid reasonably well at the time. Those capable and knowledgable of legacy programming skills peaked with the Y2k thing.
More people than ever before are attaining 4 year degrees and it now represents what a former high school degree did in terms of getting a foot in the door.
I'm at the tail end of the boomer generation, and I absolutely do not think Millennials are lazy. I think they were sold a bill of goods--that if they worked hard and got a good education they would do well in the world--that simply is not true any longer. They did everything they were supposed to do and ended up with huge student loans and no good jobs to help them pay it off.
I think student loan forgiveness is an issue that needs to be addressed, and soon.
Millenials may be more educated, but they are not as smart as boomers. Filling your head with fake classes taught by self-appointed experts in subjects that have suspect value does not make you more employable.
I attended school in the 70's. There was no shortage of goofy classes, back then.
Those women of my mother's generation fortunate enough to be able to attend college tended to pursue " Mrs Degrees". Those who did not achieve their goal of snagging a suitable husband tended to end up in the same typing pool or other low paying positions, like teaching.
Boomers know they had it better they just like to complain.
I would've loved to grow up during a time where you could just finish high school and go straight to work and earn enough to start a life. They could join a union, not have to finance everything, and they got away with crap on a summer off from school that would land them in jail with a record.
Then you would probably have had to graduate from high school before 1960.
I attended school in the 70's. There was no shortage of goofy classes, back then.
Those women of my mother's generation fortunate enough to be able to attend college tended to pursue " Mrs Degrees". Those who did not achieve their goal of snagging a suitable husband tended to end up in the same typing pool or other low paying positions, like teaching.
Some of today's garbage classes are what I like to call, "white men are evil" classes. There are "women's studies" and "African-American Studies". There's also the usual dumb jock courses for those football & basketball players who are there only to get to the NFL or NBA while jocks in sports that don't generate money have to study hard.
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