The high school class of '89 is no doubt already looking forward to graduation day. But for those who see a high school diploma as the starting line for their entry into the working world, here's a grim statistic: In the past decade the real wages of high school graduates have fallen.
According to a study by a University of Maryland economist, the gap between the value of a high school and college diploma has increased dramatically since 1979. In that year, the average male college graduate aged 25 to 34 earned 18 percent more than a high school graduate of the same age. The disparity had increased to 43 percent by 1986.
What that means, pure and simple, is that if you start the rat race of the work-a-day world with a high school diploma, you'll be starting with a flat tire.
The continuing revolution in technology is creating a work place that demands workers with more sophisticated skills. Competition from workers in other countries cuts twice: Third World nations can provide pools of employees who will work for less than American workers, while nations such as Japan are turning out better-educated workers.
Americans aren't just competing against other Americans for jobs. We're competing against the world. The high school graduate of 1989 is not going to have the skills necessary to win that competition. Success in the work place of the 1990s and the 21st century will require much more.