Education levels are on the rise in the United States. According to newly released estimates from the U.S. Census Bureau’s American Community Survey, 79.9 million American adults – 35% of the nation’s 25 and older population – have a bachelor’s degree or higher. As recently as five years ago, fewer than 33% of American adults had a bachelor’s degree.
A college education has long been a key driver of upward mobility in the United States. However, enrollment costs at colleges and universities have soared in recent years, making a four-year postsecondary education prohibitively expensive for many working- and middle-class families.
Costs are not the only consideration to weigh before attending college. For some small business owners and those pursuing a career in the trades, the military, law enforcement, or public safety, a bachelor’s degree may not be necessary. (Here is a look at the highest paying jobs you can get without a college degree.)
In some parts of the country, Americans are far less likely to have a four-year college degree than in others. Using 2021 ACS data, 24/7 Wall St. identified the least educated states in the country. In each of the 30 states on this list, the share of adults with at least a bachelor’s degree is below the 35% national average.
While the decision to attend college is a personal one, bachelor’s degree holders have some clear advantages in the workforce, including higher earning potential. Median earnings in 2021 among workers with a bachelor’s degree stood at $61,073, compared to $35,019 among working adults with no more than a high school diploma. Due in part to lower than average bachelor’s degree attainment rates, in nearly every state on this list, median earnings across all working adults are below the $45,943 national median. (Here is a look at the states where a college education pays off the most.)
Not only does a college degree open up higher-paying job opportunities, but it also provides greater job security. According to the Bureau of Labor Statistics, the unemployment rate among bachelor’s degree holders stood at 3.5% in 2021, well below the 6.2% jobless rate among those with only a high school diploma. Despite this broader trend, many states on this list had a better than average unemployment rate last year.
Click here to see America’s least college-educated states.
Click here to see our detailed methodology.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Source: Read Full Article