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An additional year of schooling increases earnings and reduces chances of an individual being in economic disparity.

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Diane Whitmore Schanzenbach, David Boddy, Megan Mumford, and Gregory Nantz bring forth the significance of how education can contribute to the effect of economic accomplishment. They evaluate cases of earning gaps between those with differentiating amounts of schooling that grant the analysis of what causes academic disparity that can correlate to economic difficulties over time. One of their claims regarding the economic product is that an added year of school enlarges salary while lowering the chances of someone remaining in cases of unemployment, relying on welfare, or in poverty. This claim is rooted in prior scholarship by American Community Surveys scholars Derek Messacar and Philip Oreopolos taking note in isolating what causes added education and utilizing changes to state laws that legislate school-leaving age. This results in Messacar's and Oreopolos' survey that go over the assertion of "unemployment being lowered by 3.6%, reliance on welfare being lowered by 5.5%, and living below the poverty line by 8.1% which then prompts annual earnings to increase by 10.7%."
https://vtechworks.lib.vt.edu/server/api/core/bitstreams/99411760-a75f-42dc-9dc3-455374a7ed75/content

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by Novice (960 points)

More than half of Americans who earned college diplomas find themselves working in jobs that don't require a bachelor's degree or utilize the skills acquired in obtaining one. What's worse, they can get stuck there for the entirety of their careers. For Jobs such as Lawyers and Doctors, require a degree but there are plenty of high paying jobs that don't require 1 additional year of school, if any at all.

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by Innovator (51.8k points)
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