Read: Earnings and Unemployment Rates

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According to data from the U.S. government, earnings (in the U.S.) increase and unemployment decreases as education increases. Grouping workers by education level, the data shows that those with more education have higher earnings and lower rates of unemployment than those with less education.

For example, workers with a doctoral degree had the lowest unemployment rate (1.1 %) and highest weekly earnings ($1,883) in 2019 of all groups shown. That’s less than one-fifth the unemployment rate (5.4 %) and more than three times the earnings ($592) of workers with less than a high school education.

(adapted from “Education Matters” by Dennis Vilorio, an economist in the Office of Occupational Statistics and Employment Projections, Bureau of Labor Statistics, March 2016.)