Money Minute: A College Degree Still Pays; Bitcoin Exchanges End Payouts

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The high cost of not going to college. The wage gap between workers with a college education and those without one is growing. The Pew Research Center reports that millennials with a college degree -- those aged 25 to 32 -- earn more, have greater job satisfaction, and lower unemployment rates than workers with just a high school education. Check the numbers: the average salary for those with a college degree is more than $45,000. That wage compares to $28,000 for high school-only graduates. Also, the unemployment rate is less than 4 percent for college grads; more than 12 percent for high school grads.

Millennials surveyed overwhelming feel their college degree was worth the high cost. The report notes that even good-paying factory jobs now require more education than a high school degree.

A pair of major European-based bitcoin exchanges aren't allowing their customers to make withdrawals. Both Bitstamp and BTC-e have been hit by denial-of-service hacker attacks,
overwhelming their websites. This comes just days after Japanese-based Mt. Gox cut off withdrawals. They all blame software problems, but the moves are shaking confidence in the alternative currency.

Whole Foods Market (WFM) isn't accepting bitcoins, but it is trying out a new payment process. The chain will allow customers at select stores to use Square to make payments using their smartphones and tablets, in an effort to speed the check-out process for certain items.

Here on Wall Street, the Dow Jones industrial average (^DJI) rallied 193 points Tuesday, the Nasdaq composite (^IXIC) gained 43 and the Standard & Poor's 500 index (^GPSC) rose 20 points. The S&P is now back within 2 percent of its all-time high set at the very end of last year.

Finally, the House Transportation Committee voted unanimously to bar the Transportation Department from allowing airline passengers to make cellphone calls. There's apparently widespread opposition because of the noise and possible disruption all of the chatter would create. The bill wouldn't stop passengers from emailing, texting or surfing the Internet.

-Produced by Drew Trachtenberg.


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crimeslawyer

No one talks about college except as a place to enhance your earning potential. How shallow. It is an experience that opens your mind to the world around you, a place to learn that books are your friend, and to challenge your intellect. College used to be the place you went to make yourself more of a cultured person. How weird to spend four years with nothing but dollar signs in your eyes. This must be very difficult for professors to have students sitting before them with such singular motivation.

February 12 2014 at 1:14 PM Report abuse +2 rate up rate down Reply
Iselin007

Many people have gone to vocational type institutions to learn skills like computer, machine shop, and electronics. People took their knowledge and expanded it on the job learning the products that are produced hands on which tailors you to that specific business of your employer. Manufacturing of certain products requires a devotion and attention to specifcations and acting as a representive in communications with customers.

Temps and visa workers can't develop the personal care and devotion to the products and total operation of everyday needs for specific products from the raw material to the final shipment of the individualized and tailored custom product. The customer needs a specific person they can talk to not a recording or someone not able to see the whole picture.

February 12 2014 at 11:21 AM Report abuse rate up rate down Reply
Iselin007

Since most of the jobs are in retail and services; students are finding it hard to get the time off on their ever changing schedules to make it through college. Meanwhile a steady flow of visa workers waltz into jobs through back door contracts. The majority of visa workers are younger than the Americans they displace.

February 12 2014 at 10:47 AM Report abuse rate up rate down Reply
Iselin007

The retraining institutions prey on people who lost their careers to outsourcing. Most of the schools are for profit an some of them are qualified for Universities; however few can place students who graduate in a poor job market drowing in trade deficits and floods of imported visa workers contracted through the back door sight unseen courtesy of your politicians on the take!

February 12 2014 at 10:30 AM Report abuse +1 rate up rate down Reply
savannahswithgod

Has anybody ever done any studies on the connections you have in your college days as the ones getting you the Big bucks? Say I was a Frat boy drunk every weekend with the rest of the Frats but then Chip the real boozer's dad or girlfriends dad gave me a job and I brought Biff my fellow drunk in with me to the loot. 3 drunken Frats in college now 3 running companies and those below them saving their financial ass time and time again.

February 12 2014 at 10:14 AM Report abuse -2 rate up rate down Reply
2 replies to savannahswithgod's comment
theycallmeroy3

Hysterical Do some more.

February 12 2014 at 10:30 AM Report abuse rate up rate down Reply
Iselin007

I knew a security guard named Biff is that the same drunk you know?

February 12 2014 at 11:00 AM Report abuse rate up rate down Reply
.kowalski440mag

I seriously doubt they \'averaged in\' all the recent grads who 1: Are unemployed and have no income, 2: Are being forced to work low paying or dead-end or part-tme jobs ....low income and 3: Are having to borrow more money to go back to college for a 2nd degree or Master\'s....negative income. Pew seems to have only included college grads who found high paying salaried jobs.

February 12 2014 at 10:09 AM Report abuse rate up rate down Reply
1 reply to .kowalski440mag's comment
theycallmeroy3

Stop, at least tell a joke or something.

February 12 2014 at 10:17 AM Report abuse rate up rate down Reply
3 replies to theycallmeroy3's comment
Iselin007

After you graduate you\'ll enter a world where technology changes so rapidy your education may be obsolete and you\'ll be too old to do it all over again!

February 12 2014 at 9:44 AM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
theycallmeroy3

Then its off to Cabo. You way under value education. Look it, when hear people talk about the uneducated work force, their referring to people who can't even read or write. Which just happens to include a large portion of our citizens. Sorry, college degrees are not a dime a dozen, and virtually all studies indicate those without earn much, much, much,...

MUCH LESS!

February 12 2014 at 10:25 AM Report abuse rate up rate down Reply
1 reply to theycallmeroy3's comment
theycallmeroy3

Like me, they're. I just can't ever hear that their there.

February 12 2014 at 10:33 AM Report abuse +2 rate up rate down
Iselin007

Once you reach age 35 unless your a doctor ect your going to be replaced .

February 12 2014 at 9:34 AM Report abuse rate up rate down Reply
1 reply to Iselin007's comment
savannahswithgod

I wasn't replaced until I got in the early 50's, a 24 year job. Destiny. Two weeks earlier at break I had sat on a picnic bench and told myself ' I can't do this no more' but I did not know why. Always thought it would take murdering or raping someone at the old Baptist/non college. Just a housekeeper or as they refer building technician. I had no degrees there but talked to a lot of students and those in the tech of computers told me they done were smarter than what they was teaching them, that was after the 1st year so I guess they still had to take 3 more to get that degree. I think 4 years not at that school range into the 130 thou. Do remember a guy graduated one year and out in the parking lot for him was a new Ferrari.

February 12 2014 at 10:21 AM Report abuse rate up rate down Reply
Iselin007

Notice a lot of students can't pay their student loans off because of the lack of jobs and low wages thanks to a visa system and that blocks US college grads and others from getting a job in their field.

February 12 2014 at 9:31 AM Report abuse +3 rate up rate down Reply
Iselin007

Sure if everyone could graduate college there would be a surplus dragging wages down.Notice all the college grads gettiing shopping carts and unloading trucks. Companies get workers on visas from contract agencies so you just went to college and gathered a lot of debt for nothing!

February 12 2014 at 9:27 AM Report abuse rate up rate down Reply
1 reply to Iselin007's comment
theycallmeroy3

Well, if your objective was to go far- fetched today, you just crossed the fence.

February 12 2014 at 10:10 AM Report abuse rate up rate down Reply
2 replies to theycallmeroy3's comment
Iselin007

Fact of the matter the statement describes the reality of today's job market after the unfair trade deals and the dependence on the visa quotas to displace entire staff in offices ect. The employers will not stop displacing educated Americans until they end the visa system that encourages it.

February 12 2014 at 10:39 AM Report abuse rate up rate down
theycallmeroy3

Your reality. Not to say foreign workers haven't come to work in in some areas of the jobs market. Mostly for advanced computer skills and their ability to speak a 100 languages.

February 12 2014 at 10:50 AM Report abuse -1 rate up rate down