Many adults have suffered through our recent economic recession, which according to the National Bureau of Economic Research, began in December of 2007 with recovery beginning in June 2009. The recession officially lasted 18 months, which makes it the longest of any period of economic decline since World War II.
Many Americans continue to experience this recession directly, or have a friend or family member who experienced a layoff or underemployment, as many continue to struggle to get back on their feet financially.
Even now as the tide appears to be turning, with increased hiring in many sectors, it is wise to look ahead and think, “what can I do to improve my chances of having continued employment as job prospects improve, or as a buffer when the next recession happens?” Since the U.S. has had two economic recessions in the last ten years, it is reasonable to expect that it will happen again.
In both strong and uncertain economic climates, you can improve your chances of staying employed, or gaining new employment, by having completed a bachelor’s degree.
According to the Bureau of Labor Statistics, your chances of being employed increase as your education level rises. Based on information gathered about adults 25 years and older, March 2011 data shows the following:
Level of Education - Unemployment rate
Less than high school - 13.7 %
High school, no college - 9.5 %
Some college or Associate’s degree - 7.4 %
Bachelor’s degree or higher - 4.4 %
Source: Bureau of Labor Statistics
This data indicates that someone with a high school diploma, but no college, is twice as likely to be unemployed as someone with a bachelor’s degree, in the current economy.
Clearly you can increase your chances of full employment by earning your bachelor’s degree. With options such as the Linfield College Adult Degree Program, where you can earn an online degree or an online certificate, it is more convenient than ever to complete your bachelor’s degree.
With increased educational achievement, you also increase your income level in many fields. The power of education means even more when economic times are challenging, because those who have higher education also have greater employment opportunities.
Request information to learn more about Linfield’s online education programs and how you can get started.
Sally Alkazin contributed to this article.