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Not to mention that fact that education won't do a thing WHEN THERE AREN'T ANY JOBS.
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There are always jobs if you have something to offer the world and if you are good at what you do. The problem with a situation where even skilled workers who are unable to find work is the over saturation of a specific skill-set. Its simple logic: If everyone is an IT specialist in one town, then the compitition for work is stiffer. But what you *choose* to educate yourself in is just as important as the education itself.