|More Education Means More Money|
Posted Date: 06/20/2016
A high school diploma is more important than ever in the 21st century workplace. According to the U.S. Bureau of Labor Statistics (BLS), in 1979, the typical high school graduate earned an average of $580 per week, bringing home about $160 to $320 more per paycheck, than the average adult without a high school diploma.
Near the turn of the century, something surprising happened. When computers, the internet, and other technological advances took hold, high paying jobs began to require more skill. By 1998, high school graduates saw a small decrease in weekly earnings of almost 5%, or about $30. Adults without a high school diploma saw a double-digit drop of almost 20%, from $420 in 1979, to $340 in 1998.
By 2009, the global recession dealt a double-blow, leaving under-educated workers with both high unemployment and small paychecks. This Bureau of Labor Statistics (BLS) chart from the Current Population Survey shows what many adult learners struggling in today’s workforce already know: More education means more money, and a greater likelihood of securing employment.
Why is a High School Diploma Better than a GED?
Most jobs today require at least a high-school education. Passing the GED (General Educational Development) test is not the same thing as earning a high school diploma. Some universities don't recognize it as a basis for admission, and others require more credits from a GED holder than from a student with a high school diploma. A study by Nobel Prize-winning economist James Heckman and colleague Stephen Cameron found GED holders to be "statistically indistinguishable" from high-school dropouts, meaning that the test usually doesn't help them land a job or to get higher hourly wages. Give us a call at 1.877.733.5561 to find the diploma completion program nearest you. This is limited to Kansas residents only.
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