As we move towards the summer, hundreds of thousands of college graduates are receiving their degrees and if you are someone who is homeless, struggling financially, or having a hard time finding employment, it should give you reason to strongly consider applying for college in the fall. The economy is producing jobs, but in recent years, the service and retail sectors have been where the majority of job growth has been and it has been at very low wages. With the recent push for a $15/hour minimum wage in many states, it will eventually result in a reduction in hiring, and when that occurs, skills and education will be absolutely essential to being successful in a job search.
One important thing to keep in mind is you will often hear that the education you have, the more likely you are to be employed, and there is truth to that. In the most recent report from the Bureau of Labor Statistics, the unemployment rate for High school dropouts in April was 7.5 percent, high school graduates 5.4 percent, people with some college 4.1 percent and those with a college degree 2.4 percent.
Over the last several years, many workers that are employed in the fast food industry and with large employers such as Walmart have been staging one day protests, in an effort to obtain higher wages. While it is understandable that many have been struggling, the first thing that needs to be understood is that what an employer will pay you is based on the value that your work brings to them.
Having an education demonstrates that you have the capacity to be trained and that you have potential that is of value to the employer and that puts you in a stronger position when it comes to negotiating your pay. If you are an employee of a restaurant such as McDonald’s, there is little skill required and the value to them is minimal, so your negotiating position is pretty much non-existent.
Without a college education, even if you get hired at a company and do an outstanding job, the lack of education will weigh heavily against you when you are competing for internal promotions. This is one of the major dilemmas facing many workers in the fast food industry. Many are individuals with no more than a high school diploma (and in some cases not even that). That puts them at a severe disadvantage because with no advanced education, there is little chance that they will be able to secure a higher wage with a different employer — and the employers know it and have no problem capping the wages of low-skilled and uneducated workers.
There are several options available when you look at going back to school. If you struggled in the past or if you want to keep a lid on costs, you can attend community college. You can also look at completing your studies online (if you choose this route, make certain you have access to a dependable internet source and are not dependent on using a computer at a public library or using Wi-Fi).
In the next issue, I am going to focus on different schools in the D.C. area, and also will explain how to apply for financial aid. I will also discuss options that are available to use knowledge you have gained through the years to be considered for college credit. If you are looking to improve your life and open up more opportunities to get ahead, the information I will have for you will be of interest to you
Arthur Johnson is a volunteer writer focusing on finance and economic issues in his column Moving Up.
