History tells us that when the economy starts to trend downward, increased enrollment in education and training — from high school to career school — is often quick to follow.
A decade ago during the Great Recession, the unemployment rate reached as high as 10 percent. At the same time, enrollment in undergraduate education spiked by more than 2.5 million, and record numbers of Americans participated in federal job training programs.
But history hasn’t prepared us for the world we find ourselves in today. Weekly jobless claims have now topped 1 million for more than three months. The unemployment rate is at its worst since the Great Depression, and the path to economic recovery is uncertain at best. Summer enrollment is already up at state flagship colleges and local community colleges, and everywhere in between. And if the past is any guide, the increase in demand for training will only accelerate.
Read Full Article »