How Economic Conditions Affect Educational Needs

About 10 years ago when the economy was booming all of the companies and employees were very happy. They were satisfied with their work conditions, salaries, and profit margins. The real estate industry was doing well, foreign trade was great, and there was a money surplus in the United States. It's funny, when all of this was going on, no one was thinking about attending school or furthering their education. Why? Because everyone was making money! The economy and continuing education are actually counter-cyclical. This means when the economy is doing well not as many people are attending classes. It also means when the economy is not doing well more people are going back to school. In this article, we are going to talk about some of the reasons economic conditions affect enrollment numbers in colleges and Universities.
Think about when the economy was doing well and you had a stable job. Were you thinking about furthering your education? Probably not. Many individuals do not feel the pressure or need to go back to school when things are good. Their company is doing well, they are moving up in their department, and they have job security are just a couple of the reasons many individuals put school on the back-burner in excellent economic conditions. Remember when the real estate market was booming? Many of the real estate agents decided to get their license and sell real estate instead of going to college. They were making a ton of money and never thought they would need a degree. Now that the real estate market has tanked more and more agents are going back to school for their degree so they can find a job.
The same goes true for when the economy is in a slump. Many people are enrolling in school for a number of reasons. Whether they want to secure their job, find a job, or want a promotion in hard economic times the education industry actually prospers. More people are going back to school than ever before. Sometimes they even go back to school so they can receive financial aid and use the aid to pay their bills. When times get tough, individuals will do whatever they have to when trying to survive a tough market. If the unemployment rates continue to increase, you can expect more and more individuals to enroll in post-secondary education to complete their degree.

Education or Industry

Developing countries are those which require the maximum attention. Since these are like growing children, the growth years need attention for them to grow up into successful constituencies. Inadequate care and ignorance can also lead to adverse results. Planning forms the essence of constituencies like these and careful execution forms the need of the hour. Strategic development strategies are required to keep the development of the countries in the upward direction. And for the development of these strategic plans one needs an able government and intelligent leadership.
In countries like these, allocation of funds is also an important aspect. Since the funds are not in excess, judicious allocation of funds is required. That's where the main question arises. There is a difference in opinions here, which arises due to different thought process of individuals. The question which arises is, should developing countries concentrate on improving industrial skills or should they promote education first.
The answer here is, we need to find the balance between the two factors. Since both the factors are equally important for the growth and development of the country. Education forms the base of what an individual turns out to be. With education one makes a more informed decision about the different aspects of his/her life. Since education incorporates a sense of good and bad in the conscious, an individual is less likely to get influenced without knowing what he/she is getting into. That's power of education. It forms the root of all the individuals and their progress in future. Education not only imparts knowledge but also cultivates a sense of wrong and right into the individuals. However industries form a separate division in whole.
Industries depict the growth of an economy and a growth of people who are able to be self sufficient and provide for their family members and themselves. Therefore development of industries forms an important aspect of the development of the countries. Hence allocation of funds to industrial development also is necessary. However education makes an individual perform efficiently at his workplace. Makes sure that the work is performed with efficiency thus decreasing the throughput time. With education forming the base of everything and industrialisation forming the base of the development and growth, it's high time both are given equal attention. With careful research, one would be able to allocate funds to the exactly the right sector, thus helping in the development and progress of the nation. Because it is rightly said, progress has little to with speed, but much to do with the direction.