A smarter America: U.S. breaks record in college degree attainment
For the first time ever, more than 30 percent of the nation’s population aged 25 and older holds at least a bachelor’s degree, according to the U.S. Census Bureau. The figure has improved steadily since 1998, when the percentage of college-educated adults over the age of 25 was less than a quarter of the population.
“This is an important milestone in our history,” said Census Bureau Director Robert Groves. “For many people, education is a sure path to a prosperous life. The more education people have the more likely they are to have a job and earn more money, particularly for individuals who hold a bachelor’s degree.”
The newly-released Census Bureau data backs up Groves’ statement. Americans holding at least an undergraduate degree fared better in the recession, and the ongoing recovery, than those without a degree, according to the data. In February 2010, the unemployment rate for adults holding a bachelor’s degree was 5.9 percent. Meanwhile, the unemployment rate for those with less than a high school diploma reached its peak, hitting 17.9 percent.
The Census data also showed disparities in earnings among degree holders. Overall, adults holding professional degrees earned an average of almost $12,000 a month. Those holding bachelor’s degrees earned an average of $5,455. But not all bachelor’s degree holders were paid better than those with a lower level degree. For example, undergraduate degree holders in education earned an average of $3,800 a month, while those with an associate degree in engineering earned an average of $4,800 each month. Degree holders in technical fields earned the highest salaries, even beating out those with higher level degrees in many instances.
There appears be another trend seen amongst those holding degrees in technical fields — this time involving location. Graduates of science and engineering degree programs are converging on the nation’s coasts, according to the Census stats. Twenty-eight percent of people with engineering or science degrees lived in one of 10 states running along the East Coast, from Massachusetts to Virginia. Another 19 percent of science and engineering degree holders live on the Pacific Coast, in either California, Oregon or Washington. More than one-third of the nation’s degree holders studied in the fields of science or engineering; there are 56 million degree holders in the United States.
