The jobless rate for high school graduates was 5.4 percent in February while it was 2.7 percent for those with a bachelor’s degree and higher, Labor Department data show.
Education “arms people with the skills to find success,” San Francisco Fed President John Williams wrote in his essay. “From an economist’s perspective, I see the irrefutable data that investing in education is crucial to economic success.”
Williams studied economics at the University of California at Berkeley before earning a masters at the London School of Economics and a doctorate in economics at Stanford University. He succeeded Janet Yellen, a former Berkeley professor, as chief of the bank in 2011, after she joined the Fed board.