Some degrees offer better job stability
February 13, 2012
Mothers who decide to pursue a college degree often do so to ensure their family will be financially independent. After all, getting a degree not only helps make a person more desirable in the job market, but it also helps her increase her earning potential.
According to the U.S. Bureau of Labor Statistics (BLS), in 2010 individuals with a bachelor's degree made an average of $1,038 per week, compared to $767 per week for those with an associate degree, $712 per week for those with some college (but no degree) and $626 per week for those with a high school diploma.
However, a new report released by Georgetown University reveals that what degree you decide to pursue may affect whether or not you are actually able to find a job upon graduating.
The study, "Hard Times: College Majors, Unemployment and Earnings: Not All Degrees Are Created Equal," found that the jobless rate for recent bachelor's degree graduates stands at about 8.9 percent. Although it's still high, the odds of being unemployed without a degree are even higher.
Researchers from Georgetown's Center for Education and the Workforce report that unemployment among those with no better than a high school diploma is 22.9 percent, and 31.5 percent for high school dropouts.
The study found that architecture majors currently face the highest rate of unemployment at 13.9 percent. The large number of jobless, recent architecture graduates can be attributed to the collapse of the construction and home-building industries in the recession.
Other majors that saw high levels of unemployment include non-technical majors such as the Arts (11.1 percent) and Social Sciences (8.9 percent).
However, some majors that are experiencing lower-than-average unemployment levels.
"Unemployment rates are relatively low (5.4 percent) for recent graduates in Engineering, the Sciences, Education, or Healthcare related majors because they are tied to stable or growing industry sectors and occupations. Psychology and Social Work graduates also have relatively low rates (7.3 percent), because almost half of them work in the Healthcare or Education sectors," the report found.
Those who want to ease the financial burden of enrolling in a traditional or online college or university should know that various scholarships, grants and financial aid are available. Scholarships for mothers, single mother scholarships, grants for parents and other aid can help make achieving your dream a financial reality.
