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A new Georgetown University study shows that Americans with no more than a high school education, who sustained the greatest share of job losses in the recession, continue to lose jobs at a faster rate than better-educated people. From the New York Times:
Over nearly five years of financial turmoil, Americans across a broad spectrum have suffered blows to wages, benefits and savings. But when it comes to employment, the crux of financial survival, the study revealed a tale of sharply different economies, defined by education.
Even during the recession, as millions of jobs vanished, the number of people with bachelor’s degrees who had jobs did not decline. And even as employment rose during the recovery, people who did not go to college continued to lose ground, shedding 200,000 jobs from early 2010 to early 2012… From late 2007, when the recession began, to early 2012, the number of people with jobs in the least-educated group [those who did not go to college] fell by more than 5.8 million, or 10 percent. In the middle group [those with some college education or an associates degree], recession losses were not as steep and were almost completely reversed by early this year. And in the best-educated group [those with at least a bachelor’s degree], in which there was no net loss during the recession, the number of people with jobs climbed by 2.2 million, or 5 percent.
Now more than ever, a college degree is vital. In a flagging recovery, higher education is a crucial step on the path toward economic success. It is for this reason that we need to strengthen our k-12 public education system and keep college within reach for as many Americans as possible. Preparation for college readiness begins in early childhood, elementary, secondary, and high school. That is why Rep. George Miller opposed the Republican proposal for ESEA reauthorization that did nothing to advance the public education system, improve schools, or advance student achievement. Instead, Rep. Miller offered substitute amendments to the reauthorization that set a goal of graduating all students ready for college and careers. This means that schools and districts must be held accountable for both the academic achievement of students and for ensuring that students graduate on time with a high school diploma. Currently, 1.3 million students—over 7,000 every school day—do not graduate from high school on time and that is unacceptable. Rep. Miller's substitute amendments also required that all students be taught to high standards, and supported teacher and leader effectiveness and improved professional development. Unfortunately these amendments failed on a partisan vote.
We must also make college make higher education more affordable and accessible for families for whom a degree may be financially out of reach financially. Past Democratic Congresses have made this a reality. Under the College Cost Reduction and Access Act legislation written and championed by Rep. George Miller (D-CA), senior Democrat on the committee, Congress made historic investments in student aid at no new cost to taxpayers. Democrats continued that historic investment in the Student Aid and Fiscal Responsibility Act, passed along with the Health Care and Education Reconciliation Act of 2010.
Democrats remain committed to keeping college costs manageable. For months, Democratic members urged Congress to take action to prevent some federal student loan interest rates from increasing. Finally, this June, the House overwhelmingly approved legislation to keep interest rates on need-based student loans at 3.4 percent next year.
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