Janet Yellen to College Grads: Best Job Market in Nearly a Decade - Higher Education
Higher Education News and Jobs

Janet Yellen to College Grads: Best Job Market in Nearly a Decade

Email


by Martin Crutsinger, Associated Press


WASHINGTON — Federal Reserve Chair Janet Yellen said Monday that college graduates are entering the strongest job market the country has seen in nearly a decade, and their degree is more important than ever.

Yellen said that with changes in the job market such as technology and globalization, succeeding in the job market is increasingly tied to obtaining advanced degrees.

“Those with a college degree are more likely to find a job, keep a job, have higher job satisfaction and earn a higher salary,” Yellen said in remarks at commencement ceremonies at the University of Baltimore.

She said that annual earnings for college graduates last year were on average 70 percent higher than those with only a high school diploma. Back in 1980 that difference was only 20 percent, she said.

Yellen said the increasing demand for people with college and graduate degrees reflected the need for higher technological skills and the impact of globalization, which allows goods and services to be produced anywhere. She said those trends were likely to continue.

“Success will continue to be tied to education, in part because a good education enhances one’s ability to adapt to a changing economy,” she said.

In her remarks, Yellen did not make any comments about Fed interest-rate policies. The Fed last week boosted its benchmark rate by a quarter-point. It was the first increase in a year. In making the announcement, the Fed projected that it would move rates up another three times in 2017.

Yellen said that in addition to the improvement in the unemployment rate, which in November fell to a nine-year low of 4.6 percent, there have been recent signs that wage growth is picking up.

  Guide Advises Officials on Responding to Upcoming Texas Affirmative Action Decision

But Yellen noted that challenges remain.

“The economy is growing more slowly than in past recoveries and productivity growth, which is a major influence on wages, has been disappointing,” she told the graduates.

RELATED ARTICLES >>
New Questions in NSSE Survey Spark Important Conversations A topical module around inclusiveness and engagement with cultural diversity debuted in this year’s NSSE survey, and the results prompted discussions around teaching practices. Every year since 2000, the National Survey of Student Engagement (NSS...
Professor Apologizes for Fiery Response to Muslim Student CINCINNATI — A University of Cincinnati music teacher has apologized for his fiery online responses to a Muslim student who was critical of Donald Trump’s presidency and talked about celebrating freedom and diversity. College-Conservatory of Music...
Colleges Wrestle with Issue of Using Students’ Fees for Controversial Speakers Katherine Kerwin didn’t like to see a portion of the student fees she pays being spent to bring conservative speaker Ben Shapiro to the University of Wisconsin. Kerwin didn’t agree with Shapiro’s criticism of what he said were attempts to chill fr...
Pennsylvania Education Leader Going Extra Mile for Diversity  Long bike rides are an annual tradition for Dr. John Sygielski, who spent several weeks biking from New Orleans to Nashville this summer, traveling along the Natchez Trace Parkway and passing through Louisiana, Mississippi and Tennessee. Along the w...
Semantic Tags: