The Unemployment Rate in the United States - Essay Example

The job market has become more competitive than ever. There are fewer jobs available in the marketplace and the jobs that are available most of the time require a person to have a formal education. In the past in the United States people could rely on the manufacturing sector for good paying jobs that did not require an individual to have a bachelor’s degree. The average manufacturing wages in the United States are $17.20 an hour (Canamex). At those salary scales a poor person can find a way to support a family with the help of one’s spouse. The problem is that during the last decade the United States has lost millions of jobs in the manufacturing sector. In the first decade of the 21st century the United States lost 5.8 million manufacturing jobs (Americanmanufacturing, 2011). The jobs available in the US marketplace have shifted into the knowledge and service economy. In order to compete in the new job marketplace it is imperative to obtain a formal education at an accredited college or university. Without a college degree the only jobs that are available are minimum wage jobs and even those are becoming scarcer and companies are diluting those jobs by offering part-time instead of full-time employment. The unemployment rate in the United States has gone up during the last few years. The unemployment in the United States in July 2011 was 9.1% (Bls, 2011). Due to the fact that more people are unemployed the level of competition was gone up and people that have better credentials are getting the jobs in the marketplace. The most important educational credential employers seek in new recruits is a college education. I have realized that the only way for me to get a good job is to go back to school to earn a degree. A college education increases a person’s chances to get a job and the job obtained will have higher wages. A person with a bachelor’s degree will earn an extra $0.9 million over their lifetime in comparison to a high school graduate; while people with a master’s degree will earn $1.3 more than a high school diploma and $0.4 million more than a bachelor’s degree (Longley, 2011). The past constraints that sometimes hurt the ability of adults to obtain a college education no longer apply. For instance a working adult sometimes had the excuse that he could not go back to college because of employment obligations. Time used to be a variable that hurt a lot of working adults. Due to advances in technology there are solutions available for working adults. Online universities such as the University of Phoenix, American Intercontinental University, and Ashford University are helping working adults achieve their dream of obtaining a college degree. Money issues were also a constraint that prohibited access to poor people to a college education. Today all American citizens are eligible to a federal Pell Grant scholarship of up to $5550 a year and they are eligible for student loans between $9500 and $12,500 yearly based on economic need. Federal student loans have the benefit of not having to pay them while a student is enrolled in school. I have a friend that is currently going through some hard times who like me does not have a college degree. I am going to call him up to try to persuade him to go back to college too. He is the perfect candidate for an online school because he is a single father with two kids. He recently told me that he needs to make more money in order to be able to support his family. The only way for him to increase his income capacity in the long term is by learning new skills and abilities by obtaining a college education. I will talk to him about a variety of options including pursuing careers that can be completed in shorter amounts of time. For instance an associate degree in physical therapy or respiratory therapy can be completed in two years. Jobs in these career fields are paying upwards of $25.00 an hour. Two other careers that can be completed in a short time that pay very good are electrician and plummer. Going back to college is going to be a great experience for me. I will get a chance to get to know a lot of young people that are that have similar aspirations as me of growing as individuals in an effort to improve our value as employees. I want to take advantage of my opportunity to go back to college to build a solid network of contacts. The people that you meet in college can become your future business partners in entrepreneurship initiatives. One of my motives for going to back to college is because in the future I want to establish my own business. Becoming an entrepreneur is a wonderful opportunity because it allows a person to achieve self-employment, flexible working hours, unlimited income potential, and the satisfaction of knowing that you are helping the national economy by creating jobs. My short term goal is to get accepted into an accredited university to pursue a bachelor’s degree. I plan to join several students and other non-profit organizations while in college in order to donate my time to help out the community. Before I stopped attending school I use to be pretty good student. By going back to college I will achieve my lifetime dream of getting a college degree. This career move will help me a lot in the long run and I will be in a better economic position to support my family. As we move forward into the 2nd decade of the 21st century the job market is only going to become more competitive. After completing a bachelor’s degree I will most likely continue my education towards a master’s degree. Education has become a critical success factor towards the aspiration of any human of having success in life. I know that is going to take a lot of hard of work and dedication to achieve my educational aspirations, but I am prepared for the challenge that lies ahead. References Americanmanufacturing.org (2011). Manufacturing: Still Waiting for a True Recovery. Retrieved August 6, 2011 from http://www.americanmanufacturing.org/blog/manufacturing-still-waiting-true-recovery Bls.gov (2011). Labor Force Statistics from Current Population Survey. Bureau of Labor Statistics. Retrieved August 6, 2011 from http://data.bls.gov/timeseries/LNS14000000 Canamex.com. Statistics. Retrieved August 6, 2011 from http://www.canamex.org/statistics.asp Longley, R. (2011). Lifetime Earnings Soar with Education. Retrieved August 6, 2011 from http://usgovinfo.about.com/od/moneymatters/a/edandearnings.htm Read More