Earnings potential may be predicted by ‘knowledge of fractions in fifth grade’
Recent college graduates who majored in math or general engineering had an unemployment rate of 5.9% and 7%, respectively, according to 2010-2011 data of college graduates analyzed by Georgetown University’s Center on Education and the Workforce that was released earlier this year. That was below the overall unemployment rate for recent graduates, which averaged 7.9% in spring 2011 and double-digit unemployment rates for some social science and arts majors.
The economists examine the large differences in labor-market outcomes across college majors in several ways. In one section of their paper, they look at data on wages by college major obtained through the Census Bureau‘s 2009 American Community Survey. They find that among other things, math skills are correlated to higher earnings. “Wages tend to be high for engineers and low…
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