Skip higher education to lower unemployment?
Survey: Fewer Americans think college is worth it
- Duration 7:47
- Date Jul 21, 2012
Survey: Fewer Americans think college is worth it
Also in this playlist...
This transcript is automatically generated
Higher education and bring down high unemployment.
Take a look at this the percentage of Americans saying that college is worth -- as flooding.
57% today vs 81% just four years ago.
As someone here says this is great news for the job market but how is that we'll have everybody -- -- the sunny welcome to cash and then.
I cast and crew this week we have Wayne Rogers Jonathan Hoenig Tracy -- -- light filled and joining us this week -- Julian Epstein so would like to welcome all of you -- start with you on this one thinks skipping college.
Could actually help our job market right now look I'm not.
Advocating skipping college -- about five of the ten hardest jobs to fill these days do not require -- -- only need is a high school diploma.
We need drivers we need mechanics we need people that actually have a trade.
Not to mention going forward in the future 40% of the jobs available the course of the next ten years will only require a high school degree now up.
I want people to go to college I want America to be Smart but I think we need both sides of the point and I think we do -- really bad job.
Making people feel really bad about themselves that they don't go to college it's just not for everyone not to mention the debt.
People can't afford it that's an interesting question that she brings up John -- -- -- -- college really a good investment at this point.
For for many Americans.
It depends what you do -- -- Tracy is exactly right this is not an either or equation if you're going to college and get a liberal arts degree odds are you're just your parents money.
But you look long term you make about 50% more money over your career with a college degree.
And unemployment for college graduates not dispose 124 are about half of the national unemployment rate.
And we're looking at -- science and tech if you're getting SI integrity which a lot of people don't wanna get and for them you're exactly right skip college and get -- job right now there's nothing wrong with that.
-- -- fifteen million job openings according to Bill Gates but when it when he.
America is going to have to outsource that job says we don't have a.
-- -- -- makes a good point about the types of jobs that do they do not need a college degree -- our group also does survey only three of the top ten jobs that are.
Open in demand right now.
Need an education does that surprise -- at all.
Well you Ed does surprise me a little bit but I mean I think racist comments were right I think John's comments were right college is clearly not for everybody.
And I think the bigger issue is having a job market out there that would make -- that would have more jobs for college graduates but John -- You know that -- on the money here I mean if you're college graduate your your income is going to be 50% greater.
Your benefits are going to be greater your ability your so your -- economic mobility is going to be significantly greater your unemployment is going to be half.
So well I agree that not everybody needs to necessarily go to college we need to be a country that's going to be Smart we need to be a country that's going to be able to compete.
-- with the with.
Europeans with the Asians all of whom.
Are making great advances there educational systems the -- the overall job market if we're seeing the shift -- in the numbers are telling us we are saying a shift.
Types of jobs available the cost of college.
Maybe this is a better thing for the job market but maybe not everybody pursues that that bachelor's degree.
Well and not only is Tracey -- and John is right Julien is right I must say -- I I think I -- -- I think everybody -- it right up you know there's a presumption in your question is a presumption that says okay.
College is a must that somehow that's going to lead to a job and you're gonna make more money not true at all.
And people go to college and -- colleges and not necessarily do it directed to give you a some sort of what.
A background it's gonna lead to a job do you get a general education after you go to graduate school for business go to graduate school -- of medicine for specialized things -- That vocational training where the jobs and needed is where somebody with somebody and I hadn't finished.
That's our it was -- and look at it wed no -- -- -- where where somebody is strange specifically for a vocation.
That's a good way to get to a quick job if that's your view is that -- ambition Jonathan I'm assuming you wanna -- -- -- -- -- Feel I'm getting Iraq -- -- the principal's office here you know -- you say that we shouldn't say that -- -- to go to college but in fact that's exactly what our government's policy has been for many many years I mean we have -- president now who called college a rights and of course like every got a -- monopoly that is pushed up the cost and pushed.
Down the quality I think the panels made some great points according to the government's own statistics roughly 65%.
Of those jobs now outstanding.
Don't require that much coveted college education and of course whether it's Irving Berlin are Trace Adkins -- Thomas Edison or Debbie fields.
-- Jonathan Hoenig there's many examples of successful people who don't know the college.
Government involvement -- raise the cost lowered the quality that's -- -- The -- and to limit -- governor.
On the way what they're -- an economic question I -- take the stick is I think that's really interesting if you look at the amount of debt Tracy brought this up at the top of the show -- not a debt that Americans are sitting on.
For higher education a lot of that goes away.
If we see the chef would not be good for the economy -- Well but John -- makes the better point in the long run for most people going to college means you're gonna have you're gonna have much much more wealth.
And much higher wages ZoneAlarm -- it's a better economic proposition.
That's the Jonathan -- -- point about the government getting involved.
Think there's a big difference between the governments and we're gonna make it easier for people who want to go to college to go to college -- the lesson that financial.
That by having.
A college loan program that makes sense what it and say -- -- that would cause -- think it's anybody have to look at the Japanese government really did try to make it easier for it incentivizing right exactly that's the theme velocity they use with ethanol is the same -- -- -- -- the -- with housing.
And you know show you mentioned those numbers about people who thought college was a good idea.
The same numbers applied to people who thought housing was a good idea 56 years ago yes -- government incentivizing and the same thing -- -- -- friends -- with the same thing applies when you get married the same thing applies.
When you buy a home the same thing applies when you have a child that.
I gotta get your motive I think that's why did get -- Considering the right thing I do agree with Julian I think we should be be smartest nation and everyone should go but it doesn't work and it's not -- effective.
So -- way to do it is sent people over.
Associate degrees or certificates get -- out there -- feel what they love and then they go on.
We -- kids right in the contact high -- they don't know what they're doing they end up with these liberal arts degrees.
That put their money -- -- -- line unfortunately -- actually -- -- not a lot of companies are actually working closer with vocational schools to get the needed skills they need at a faster at a time vocational training as much.
-- -- -- -- it's much quicker and and and companies are working on for good reason many trained people one thing President Obama is doing what's politically motivated not that really matter it's a good thing.
Is this prop up pushing science and tech degrees.
We are reaching a huge crisis in science and -- fifteen million jobs are gonna be sent overseas and you -- -- talk about all outsourcing between governor Romney and and -- President Obama.
This is going to be outsourced we don't have the people we could triple -- quadruple we could make ten times H one B visas should.
We don't have enough people you decide to take degree you -- a great job right.
You're a very important a -- ten seconds.
I college degree of the commodity and like anything else like a hamburger you needed to -- that's important -- you.
Government involvement pushes up the cost pushes down the quality that's what we actually -- -- -- -- free marketplace decide and rain for a lot -- event today at.