The U.S. Census is a treasure trove of information on worker trends. The 2006 American Community Survey gives mangers even more incentive to make higher education a priority. Workers with a bachelor’s degree have a 2.7% unemployment rate — less than half the 6.1% unemployment rate for high school graduates.
The difference is even more pronounced for adults who didn’t complete high school; these individuals had a 9.6% unemployment rate — almost four times the average bachelor’s degree-holder.
Education also increases employee retention. According to one study, high-tech companies with a tuition reimbursement program, coupled with promotion incentives for successful completion of educational programs, reduces the voluntary turnover rate by a whopping %55 when compared with companies that lack a tuition reimbursement program.
Unemployment Great Depression Image courtesy Library of Congress
