Understanding the Labor Market and Microeconomics (Research Paper Sample)

Labor market and Microeconomics
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Introduction
According to previous empirical studies by Leonhardt (2018), once high school students graduate or even advanced education, usually, college education and graduation is the priority that dictates their careers or profession. Typically, the education career advancement, the more the work it pays. Nevertheless, the sort of work graduates aspired will always lead to varying salaries based on their desires and tastes. In today's world, though, a well-paid career is still feasible without a university degree. For instance, the corporation that I am currently working with has a part-time incentive scheme. Providing students assistance and the ability to have college education helps stimulate economic growth such that individuals spend more to acquire more information and save capital.
Literature Review
Reflecting on the first article, “Strengthening Our Economy through College for all," addresses the job market and wages. This article discusses how the economy demands jobs and potential employees who have to be passionate about schooling and understand as best as possible. The most significant accomplishment in this knowledge and skills in post secondary education. Many other countries are well-positioned for the potential workforce's needs, and if the US fell behind will place our economies at risk. The concepts that have been discussed and still appear in this article must be published four years earlier (Leonhardt, 2018). When Barack Obama was the President, he had a scheme that he declared that virtually all students could enjoy free community college. This initiative was now not effective four years later since community colleges are not open. The proposal involved not having to fill in the request for Federal Student Assistance to be funded by the federal administration. This initiative has not been completed, but FAFSA makes it easier to see whether students are willing to qualify for assistance. This article outlines that 65% of all jobs in a year would require a Bachelor's, Associate's, or some form of education outside secondary schools, considering the USA's current development rate.
The second article I have selected, “The Growing College Graduation Gap," addresses students who live in and visit university campuses. The advantages for universities and downsides are numerous. These advantages include lower unemployment, higher incomes, increased well being, and greater happiness in the long run. (Leonhardt, 2018). The downside, though, is that a lousy student has an abysmal college success score. This post, however, notes that for wealthy people who go to college, it is far different from those who are not wealthy. In the last 40 years, students' hourly pay has increased, but those with any college background did not see much improvement. The university degree divide is widening and is impacting middle and disadvantaged students. They have been influenced both by cutbacks in state funds and by increased enrolments. There is an indication of interest in reforming the tax, housing policies, and other fields with President Biden in office. This will allow millions of students who arise from households of hardship to graduate.