Recession & Education

So, earlier today, I heard on NPR that education during this recession helps people to be better prepared while the economy bounces back. This post by no means disparages the fact; however, challenges the practical application of it. In essence, there should be a disclaimer that a cost benefit analysis is necessary before this "education."

Let's set the ground rules for the business: Hypothetically, there are only so many "better" jobs that the economy can afford, and this is usually located on top of the pyramid. With the way the recession is driving businesses, they are running lean-and-mean, and only the cream is retained. There is no denying that recession is changing the outlook of businesses. Even if the economy bounces back, why should businesses grow fat if they sustained the worst (of course, with explosion of business, there would be a growth in work-force; but again, that would be to serve the customer and not kill time)?

Moving to the worker, who was laid off recently owing to the economy: Assume there is this person who is at the bottom of the pyramid, eventually sent home on account of work force optimization... The business has retained its cream, and it does not require anymore fat. Now, this worker neither fits in at his/her level, nor, on account of his/her education can fit in at this "better" level as the business already has the "cream" at it. So what is the value that the education is adding to this worker bee? Additionally, if there was a loan involved, it is only adding to the misery of the laid-off worker.

Moral of the story - education definitely helps, but time it and assess appropriate trade-offs.