The economic outlook is bleak. Unemployment is rising. Credit markets are dysfunctional. Students are worried about job prospects, for good reason.
If you’re a young person choosing a career path, forget banking, forget autos, and forget Wall Street. A new study coming out from the Hudson Institute in January, funded by the Bill and Melinda Gates Foundation, shows that enrolling in a community college and earning a two-year degree or certificate in a health-related profession—the only field that showed significant job gains in November, and the one with the most jobs openings—can open a pathway to higher earnings.
These findings demonstrate that the role of community colleges in American higher education has been expanding for good reason: they are cost effective.
The study, by economists Louis Jacobson and Christine Mokher of CNA in Alexandria, Virginia, examines 145,000 students in Florida from 1996 to 2007, using individual data on education and earnings.