Lifelong Learning as an Economic Imperative
The Economist recently published an article on how Lifelong learning is becoming an economic imperative. The article reflects on the connection between the economy, employment and education. It aims to explore the mechanistic relationship between education and wages. For instance, between 1982 and 2001 the average wages earned by American workers with a bachelor's degree rose by 31%, whereas those of high-school graduates did not budge, according to the New York Federal Reserve. But in the following 12 years, wages of college graduates fell by more than those of their less educated peers. Meanwhile, tuition costs at universities have been rising. The article makes a powerful case that to remain competitive, and to give low- and high-skilled workers alike the best chance of success, economies need to offer training and career-focused education throughout people's working lives.