Among the interesting facts contained within the U.S. Labor Department’s February (2009) national monthly labor report are some pertaining to education. Although lay-offs across all levels of education were at record highs (at least since 1992) those individuals with more education fared better than those with less. Look at the following unemployment figures from the report:
Unemployment rate for college graduates… 4.1%
Unemployment rate for those holding only a high school diploma… 8.3%
Unemployment rate for those with no high school diploma… 12.6%
Clearly, the level of education attained impacted unemployment rates. The moral of the story would seem to be, GET AN EDUCATION!
Sure, this is not new. Conventional wisdom has been for some time that the more schooling you have the better will be your job prospects, and by extension, the less chance there will be of losing your job once you have one. Obviously, an advantage to having an education is that it increases your qualifications, but perhaps as important is that it shows others that you have a willingness to have a plan. And it is those who have a thoughtful and well executed plan who end up with greater job security.
Of course, there are no guarantees. The current recession is chock full of examples of well-educated, rational planners who got taken down by economic forces beyond their immediate control. But I’m talking about proper career positioning of yourself, which is better than just going along for a ride on the swings of a capricious marketplace.
Always maintaining a self-learning curve is among the best positioning tactics around. (Think about it. When is a good time to not be learning?) Matriculating into a formal education program is great if that’s part of a self-growth plan. Systematically determining a strategic career plan, either by yourself or with the assistance of others, is a smart thing to do.
For many, further schooling will necessarily be part of that plan. Unlike the old days, however, when getting a degree was basically the only pre-requisite to a new career, these days getting more formal education may be at best a steppingstone among many to keep you moving along a career track. But that’s okay. If you’re not avoiding adulthood by hiding out in graduate school, going back to school may be the best option for many of you. It’s hard to think of an example when learning was counterproductive.
The bigger issue here is one of self-investment. Mature and successful people know that chances of a return are most often there for people who risk some investment in themselves. Furthering your education, whether during a recession or not, can be just that sort of investment. It increases your knowledge base, the scope of your network, and confidence in yourself, all of which enhance your career positioning.
Remember, the value of going back to school is not just having an additional line item on your resume, but rather in the self-improvement that you should be consciously trying to derive from it. There really is no distinction between personal development and career development.
