Is College Worth the Money? A Look on the Effects of Bachelor’s Degrees to the Unemployment Rate
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This paper aims to quantify the effect continuing with higher education after high school has on the unemployment rate. Fifty states were used as data points in this analysis to ascertain whether attending college greatly enhanced an individual's probability of being employed. Our hypothesis was that the greater the percentage of bachelor’s degrees to the population in a state, the lower that state’s unemployment rate would be. Other explanatory variables such as the percentage of people with a graduate degree, the increase in state GDP, the percentage of people with a high school degree, race distribution and median age were factored into the analysis to avoid data bias. Our data analysis shows a noteworthy correlation between the percentage of bachelor’s degree holders to the state’s unemployment rate - all other factors included.