The labor market is the market for services provided by people using their time and skills. The labor market for people with a college degree is very different from the labor market for those who have not graduated from high school. College graduates have more skills and education, and ask for higher wages. Firms value these skills, and provide those higher wages. In the end, the labor market dictates far higher incomes for people with college degrees.
- Is Going to College Worth the Investment?The cost of a traditional four-year college education is skyrocketing. While more U.S. students are enrolled than ever before, a perfect storm of soaring costs, rising student debt and shrinking job prospects has led critics to increasingly challenge whether college remains a worthwhile investment. This Knowledge@Wharton story presents all sides of the argument. What do you think?
- Getting Job Experience: Time Is on Your SideDuring a speech to the National Association for Business Economics in late March, Federal Reserve Board chairman Ben Bernanke said that an improved labor market would depend on stronger economic growth. In other words, the economy has to get better before offers for job seekers start pouring in. Now, more than ever, it is important to get job experience early so that you have a competitive advantage when you start submitting career-oriented résumés. Guest columnist Casey Slide offers advice on how to hone your skills in preparation for your first real job.
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