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Unemployment Rate Closer To 17% - Why Returning To School Makes Economic Sense

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The U.S. Labor Department reported that as many as 16 million Americans remain unemployed. Previous employment reports have underestimated the countries effective unemployment rate. One reason is that many eligible full time workers have been forced into taking part-time positions, say nothing of the millions of unemployed workers who have simply given-up their search for employment all together.
 
When all is said and done, the effective rate of unemployment is now estimated to be closer to 17% - a very sobering number. For this reason there has never been a better time to consider returning to school to get retrained in a new and more marketable vocation, and then later rejoin the job market when the economy begins to grow again.
 

Recovery Stimulus Package – Returning To School

 
The Recovery Stimulus Package is full of financial lending incentives to make it easier for unemployed workers to return to school. There are a host of online resources that can help you survey the career vocations available and the education and degrees required for these positions.
 
Most employment experts now agree that it’s much tougher to find a job today then it was just ten years ago. This is especially true for the self-employed, independent contractors and others who have been on the front line of the recession and who do not qualify to receive unemployment benefits.
 

High Consumer Debt Challenges Recovery

 
Unfortunately, high unemployment is not the only financial trouble challenging America today, according to recent studies, the average consumer now carries over three-times more consumer debt then they did just thirty years ago. Today, there is also a much larger share of Americans who are living without health insurance – in many cases being just one illness or injury away from bankruptcy or a foreclosure.
 
Even with recent reports that food stamp programs are now feeding up to 50% of our nations children, many unemployed Americans feel their time is running out. They know they really need to make a change if they are to survive this economic downturn, but they are not sure which path to take. For many Americans, this has translated into the need to consider pursuing an alternative vocation. An alternative vocation almost always means returning to school to learn a new skill or profession. There are scores of legitimate online education and degree programs that can inform you on your career and job options.
 
The economic experts are already projecting that the unemployed of 2010 are likely to experience one or more of the following financial stressors in this economic cycle: loss of job, foreclosure, bankruptcy and possibly even homelessness.
 

Older Workers Hit Hard By Recession

 
Older workers have been hit particularly hard by the current recession. Recent government reports suggest that if you’re unlucky enough to be laid off in the current job market and you are in your fifties - chances are your layoff will be a permanent one.
 
Many older workers end up getting forced into permanent retirement. Unfortunately, many of these older workers don’t have enough in their retirement accounts to cover their current standard of living. So they look for part time work while they wait for their social security benefits to begin, which in many cases is still years away. Fortunately however, the numbers and types of educational programs available to older students are also increasing, with a variety of options including evening and weekend programs as well as online degree programs.
 
For live expert job, employment and career advice, as well as knowing more about available online education and degree options, including how to access student lending services visit our trouble-talk career and advice learning center at GotTrouble.com

 

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