Recent reports show that even during the economic downturn, companies continued to spend on educational programs for their employees.  The reports also show that companies that cut education budgets also suffered from declines in sales, as well.

Although some companies did cut education budgets, they were in the minority.  And almost half of the people responding said their companies were beefing up their education programs during the recession.

Other results of the survey showed that more than 50 percent of the companies had curtailed travel and cut budgets for conferences, seminars and workshops because of the recession.  But the study also showed that Web-based and other electronic learning forums were becoming more widely used.

The report showed that companies are focusing more on “targeted learning:” covering less material but having it geared more toward the specific needs of the employee.

And a report from the Federal Reserve Bank of Dallas confirms that more education has its rewards in a knowledge-based economy.  People who are continually learning and adding to their knowledge and skills are earning more than those who are not.

The figures show that during a career lasting about 40 years, a high school graduate earns on average $1.5 million, a college graduate earns $2.6 million, someone with a master’s earns $3 million, and a person earning a doctorate can expect to earn about $4 million during that time span. Outstripping them all, however, is a person who earns a professional degree (doctor, lawyer) – he or she can expect to earn $5.3 million during that time.

Workers are constantly pulled toward higher educational levels because of the economic rewards they get for it, according to some business experts.  And the benefits of experience and education reach their high point for the oldest workers, those in the 55 to 64 demographic, who earn the highest wages.

Some economists contend that workers’ lifelong learning, in both school-based and in more informal settings, is the key to the country’s economic growth. Good jobs will exist only if there are qualified workers to fill those positions, they say.  But the U.S. is not keeping pace with other countries in the quality of its educational system, and the economists say changes in the country’s school system are needed to keep the economy strong.

While technology is important, in the end, it’s the human brain that really counts, and it is the continual learning throughout a lifetime that will lead to more opportunity and better living standards, they say.

If new opportunities are on your mind, contact a recruiter at StaffEx. We have many long-term temporary as well as direct-hire positions with some of the best companies in the Tampa area. We look forward to hearing from you!