Two articles recently caught my eye. Both having the topic of less people enrolling in advanced degrees.
Please see: http://www.deseretnews.com/article/700182482/Number-of-graduate-students-down-for-the-first-time-in-seven-years.html and
http://www.dispatch.com/content/stories/business/2011/10/09/law-school-applications-for-2011-at-9-year-low.html
I thought it was interesting that in the first article, the Council of Graduate Schools noted that usually bad economic times bring students to schools. But in this economic climate, people are concerned that if they leave their current job, there won't be one to return to. Even with employers saying they need those with higher education, people don't want to take the risk.
Another reason--the high cost of graduate school. With the uncertainty of a job, any job, not too many people want to have to pay back high figure loans. Companies who are offering jobs to recent grads are giving lower salaries compared to even a year ago. People are looking at value added for themselves, including if they do go back to school, skipping the higher end universities for a school that's more affordable.
Over the years, reports of the millennial generation have mentioned their observations of the parents. This may be another evidence. They see their parents with college degrees, even advanced degrees, who are now unemployed. Even dentists and doctors have seen their practices decline up to 50%. Though they hear they should get an advanced degree, in real life it doesn't seem to matter.
Right now there is much uncertainty. As long as companies sit tight, so will their workers.
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