An article posted by the U.S. Bureau of Labor Statistics (BLS), “Education Still Pays” certainly captures our attention and answers a very crucial question: “As the cost of higher education continues to climb, prospective students and their families might wonder: “Does it still pay to get an education?” According to the most recent data from the U.S. Bureau of Labor Statistics (BLS): Yes, it does.”
According to the article, past BLS data have provided evidence that the higher education attainment a person has, the higher their income is. The most recent data shows the same! Seen in the chart, each rise in educational attainment ( i.e. high school diploma → bachelor’s degree) is followed by an increase in weekly earnings.
Equally, the unemployment rate drops with each education attainment. For example, those with an education level less than a high school diploma face have the highest unemployment rate of 11%. In contrast, those with a doctoral degree face the lowest rate of 2.2%.