According to the U.S. Census, the expected lifetime earnings of a high school graduate are $1.4 million, while the expected earnings of a bachelor’s degree holder are $2.4 million. Additional academic research has estimated that the true opportunity cost of not obtaining a college degree is $500,000. Additionally, while post-secondary degree holders were not exempt from the pressures of the diminishing economy, they experienced lower overall unemployment rates than the workforce as a whole.
Below are key findings of the August 2014 TriNet SMBeat Report. The data is sourced from TriNet’s over 9,000 clients and more than 258,000 worksite employees in the U.S and the Bureau of Labor Statistics:
According to a recent study, there are 3.6 unemployed workers for every job in the United States. Many jobs are going unfilled simply for lack of people with the right skill sets. The President of the United States has recognized this issue as he recently put forth a call to action on college opportunity to help ensure that every child, rich or poor, has the access to a quality college education. His goal is for working and middle class Americans to be able to afford and attend college. Given the impact higher education has on earnings and the ability for gainful employment and a healthy, balanced life, it seems clear that every effort should be made to help Americans attend college and gain the skills necessary to get the jobs they want and need.
In addition to the findings on the importance of higher education, below are the key findings on economic employment indicators across TriNet’s clients in August:
For additional details and to receive monthly SMBeat alerts, visit TriNet.com/smbeat.
TriNet is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.
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 Tiffany Julian, “Work-Life Earnings by Field of Degree and Occupation for People with a Bachelor’s Degree: 2011,” American Community Survey Briefs, October 2012. http://www.census.gov/prod/2012pubs/acsbr11-04.pdf
 As of June 30, 2014. Data is sourced from full-time and salaried employees of TriNet’s clients, which we refer to as worksite employees.
 Steve Crabtree, “Obesity Linked to Long-Term Unemployment in U.S.” Gallup Well-Being, June 18, 2014. http://www.gallup.com/poll/171683/obesity-linked-long-term-unemployment.aspx
The White House Office of the Press Secretary, “Fact Sheet: The President and First Lady’s Call to Action on College Opportunity,” January 16, 2014. http://www.whitehouse.gov/the-press-office/2014/01/16/fact-sheet-president-and-first-lady-s-call-action-college-opportunity
April 9, 2021
Join TriNet for the first of a three-part webinar series with the California Labor Commissioner’s Office to receive important insights on what employers with a remote workforce need to be thinking about to comply with wage and hour laws.
April 8, 2021
TriNet, a leading provider of comprehensive human resources for small and medium-size businesses (SMBs), today announced the launch of the TriNet Foundation and its first donation recipient: Black Girl Ventures.
April 5, 2021
In this webinar, TriNet’s HR experts will share their insights into potential HR challenges that small businesses will face and how to prepare for them, as companies adapt to a new normal in the workplace.