Money: Financial, Economic News and Money Saving Ideas

Less College Enrollments Means Better Economy

on

Even though there are a lot of signs showing that college education is very important especially amidst the present recession, there is still an obvious decline in college enrollment, but this does not necessarily mean it’s a bad thing.

college-student-campusThere were more students enrolling in colleges during the recession from 2007 to 2009. After that the charts show that college enrolments are gradually decreasing and haven’t bounced back ever since.

According to Moody’s Analytics economist Ryan Sweet, when the economy not going well, people tend to hide behind the four walls of the college classrooms, since there are less opportunities elsewhere.

With this, he contradicted, there are more job opportunities now more than ever and the declining number of college enrolment is a sign that the economy is going well.

It is not a good development if there are more high school graduates bypassing college for a minimum-wage job that does not promise a good future. On the other hand, it would be good news if these high-school graduates bypass college for decent paying jobs in manufacturing and construction or even taking up two-year technical training courses.

Not everyone has the privilege to go to college, but when the economy is good, it is easy to find decent paying jobs that don’t require applicants to be graduates of four-year courses.

Thee are industries that have a shortage of skilled workers, including medical technicians and welders.

There are still no concrete signs as to where young Americans are headed after skipping college, but if they are landing on high demand jobs, then it would mean the economy is headed somewhere good.

Student debt is probably one other leading reason why young Americans are opting to forego college. Some even fear they would drop out of college in the middle of their four-year course with piles of student debt and without a job.

There are no comments yet