In contemporary society, there have been discourses related to tertiary education, which are garnering heated debates. While it has been acknowledged that a plethora of enrollments leads to unemployment, I agree with those who believe that the country benefits from high enrollment rates because it fosters innovation and provides significant aid in paying taxes.
On one side of the debate, detractors argue that an abundance of admissions results in unemployment because should universities produce larger numbers of students than the labor market absorbs, employers will struggle to secure employees, thereby fostering increasing competition for job prospects for limited positions. As a result, many qualified employees can be deprived of employment despite having a degree. However, because high education engenders innovation and creativity, new jobs can be generated, potentially creating new opportunities. Hence, it renders large-scale unemployment rates reduced.
On the other side of the spectrum, it is believed that it brings tangible benefits to the country because it contributes to paying taxes. As universities equip students with specialized knowledge and professional skills, graduates tend to secure higher-paying jobs; therefore, should employees have financial viability, they will contribute a significant amount of their wages in taxes. For instance, according to statistics indicated by Switzerland, a large proportion (43%) of subsidies are constituted by taxes derived from highly skilled employees. Thus, it fosters greater revenue for governments to receive, which can be invested in domestic public services and infrastructure.
In conclusion, in light of aforementioned the arguments, while some take the view that a sizable cohort of students will result in unemployment, I believe that it enables nations to foster innovation and economic growth.