More And More Of America's PhDs Are On Welfare
The Great Recession and the very slow pace of subsequent recovery has sky-rocketed unemployment, as well as people on welfare and food stamps. A record high of 15 percent, or 46.37 million Americans, were on food stamps in June last year — that's almost one in every seven Americans. That number is not expected to come down much without a significant improvement in the unemployment picture.
Even worse, according to The Chronicle of Higher Education:
The number of people with graduate degrees — master's degrees and doctorates — who have had to apply for food stamps, unemployment or other assistance more than tripled between 2007 and 2010. Of the 22 million Americans with master's degrees or higher in 2010, about 360,000 were receiving some kind of public assistance, according to the latest Current Population Survey released by the U.S. Census Bureau in March 2011.
So holding a PhD does not automatically walk you into even a decent paying job any more. This infographic below helps to illustrates this sad new reality in America. Source: OnlineColleges.net
© EconMatters All Rights Reserved | Facebook | Twitter | Post Alert | Kindle
Read more posts on EconMatters »
All of the content on EcoMatters is provided without assurance or warranty of any kind. The opinions expressed here are personal views only, and no warranty of fitness for any particular use, merchantability or non-infringement is made. EconMatters (The Site) is not intended to provide tax, legal, insurance or investment advice. Nothing on The Site should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by the Site or any third party.