In what ways is the economic status of the individual affected by their education level?

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Abstract:
The main aim of this paper is to examine in what ways the economic status of an individual is affected by their education level. This research will try to prove that not all educated individuals obtain employment with a good salary despite the common belief that education helps in securing a good job. In addition, a lot of people take out loans to finish their higher education but fail to find a well-paying job after receiving their degrees and end up paying off their debt for the rest of their lives. Some variables such as demographics and fields of educations are directly related to the job opportunities and income of an individuals. The study will also examine the likelihood that those with sectors of education (degrees) will have higher earnings than those without them.

Introduction
Education is the process of acquiring knowledge, skills, beliefs, and habits through different learning modalities like training, research, study, and instruction. In today’s world, education is frequently seen as the key to achieving success. With the advent of technology and globalization, the job market has become increasingly competitive where individuals with higher levels of education are considered to secure high-paying jobs, have better job security, and experience greater social and economic mobility. According to a journal article published by the American Council on Education, “youth without degrees at end of job line” (Ashburn, 2011). This implies that young individuals who lack education (degrees) are less likely to get employment than those who do. With higher level of education an individual will have credentials necessary to compete in the job market and secure well-paying positions. Therefore, education provides individuals with the skills, knowledge, and tools necessary to succeed in the job market and increase their earning potential. However, not all individuals with higher levels of education experience economic success, and there are many factors that contribute to an individual’s economic status beyond their educational background. This paper will examine the relationship between education and economic status, exploring the various ways in which education can impact an individual’s economic opportunities, as well as the limitations of this relationship. The paper will also discuss the importance of considering other factors such as personal circumstances, industry changes, and location when assessing an individual’s economic status. Ultimately, this paper aims to provide a comprehensive understanding of the complex relationship between education and economic status.