Statistics- Education vs Unemployment Rates

Last Updated on April 9, 2024.

Statistics that were published recently confirm, once again, that education really pays off! So, if you are looking to leverage up your education and get your GED® diploma, don’t hesitate to use our free online GED classes and GED practice tests.

Our free lessons will help you determine if our online method is right for you and get you going on your GED® prep journey.

If it appeals to you, we suggest you create an account with Onsego GED Online Prep, a full-scope, accredited, affordable GED program that GED Testing Services recognizes as 100 percent in line with the current GED test.

The U.S. Bureau of Labor Statistics published data that clearly indicate that as educational attainment increases, unemployment numbers decrease and earnings increase.

If we group workers by their education levels, the chart below is showing that individuals who enjoyed more education are having lower unemployment rates and higher earnings than individuals who had less education.

With each education level you complete, you will develop more and better skills. This gives you access to better-paying positions and indicates that you’ve got what it takes to carry out important assignments, such as meeting deadlines and planning ahead. And that’s exactly what employers are looking for and value.

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But there are, of course, more factors that affect earnings and employment options, such as experience, geographic location, and hours worked. Data and information from the U.S. Bureau of Labor Statistics will help you understand more about these factors.

So even when you think your career path may be somewhat hazy, the data provide a clear picture. More education will lead to better job outlooks and higher earnings potential.

To give you an example, of all the groups shown, employees who hold professional degrees showed the highest weekly median earnings ($1,893), and for this group, the unemployment rate was only three percent over the previous year. This is more than three times the earnings ($6.9919) and not even one-fifth of the unemployment rate (11.7%) of individuals who don’t hold a high school or GED diploma.

Education by itself will not guarantee you’ll find a great job and make lots of money, so keep on reading to learn more about other factors that will increase your odds of getting a rewarding and well-paying job.

Well-Rounded Soft Skills will also Get You Hired

There have been many surveys and studies that indicate what employers are looking for when they want to hire the right person. And it isn’t all about just finding the individual who’s capable of performing the tasks and duties that come with the position.

Today, hiring managers will look beyond degrees, certifications, or technical skills, but they will evaluate an applicant’s soft skills as well. The fact of the matter is that your credentials might well get you the job interview, but your soft skills will get you the job offer.

Soft Skills, What’s That All About?

You need well-rounded soft skills to be successful in the workplace. These are the interpersonal traits and skills you require to thrive among coworkers. Soft skills include how well you can solve problems, how you manage assignments and work in general, and in what way you’re interacting with colleagues.

And because practically all jobs require employees to be able to engage with coworkers in some sort of way, hiring and recruiting managers will always be on the lookout for applicants with well-rounded soft skills.

Check out this list of soft skills that employers are valuing highly these days:

• Work Ethics
• Communication Skills
• Teamwork
• Adaptability to Change
• Positive Attitude
• Perseverance

Many GED students acquire some of these skills during online GED prep classes. Perseverance and adaptability to change are part of the successful completion of the online GED prep.

Soft Skills and Your Education

Sometimes, students quit high school prematurely, and this can be for various reasons. Bear in mind, however, that it’s never too late to get complete your secondary education! If you earn your High School Equivalency diploma, you’ll definitely increase your chances of getting better employment and earning higher wages. And getting your diploma in a not-so-traditional way (e.g., by taking and passing the GED or HiSET exam) is a great idea and a well-known approach.

Many adult students have already developed their soft skills, and this will definitely increase their chances of fighting unemployment, getting a good job and a rewarding career, and improving the living conditions for themselves and their loved ones.