Master’s degree holders face lower unemployment rate

During an economic downturn, it can be difficult to hold onto your job, especially if your company is looking to lay off workers in order to save money. It's not uncommon for individuals with bachelor's degrees to find themselves unemployed when the going gets tough.

For this reason, more people are returning to school to earn a higher degree and improve their chances of remaining employed. The U.S. Bureau of Labor Statistics reported that in 2010, the unemployment rate among those with a bachelor's degree was about 5.4 percent. Individuals who had a master's degree faced a 4 percent unemployment rate, which is a notable difference.

There are many reasons to earn a master's degree in addition to avoid being affected by the high unemployment rate. A master's degree can improve your chances of earning a high-salary position and moving up the career ladder.

College grants and scholarships can help you reach your goal over time. These financial resources can curb the cost of tuition and do not have to be repaid in the future.
 

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