Final answer:
The statement relates to the impact of education on earnings, showing that professionals with higher education tend to earn significantly more. Despite the financial benefits of a college degree, a considerable number of Americans do not pursue higher education. Advanced skills and education often lead to higher-paying, salaried positions in the labor market.
Step-by-step explanation:
The statement presents a scenario in which 15% of the population, consisting of professionals and upper managers, make $125,000 or more annually and have attended college or university. This segment of the labor market demonstrates the economic benefits of higher education and specialized skills, pointing to how educational attainment can lead to higher wages and the creation of a 'winner-take-all' labor market. People with at least a four-year college bachelor's degree earn significantly more than those with only a high school diploma, as evidenced by workers in the 25-34 age bracket earning about 1.85 times more if they have a college degree compared to their high school graduate counterparts.
Learning and additional education are key to financial success, according to the Bureau of Labor Statistics, which shows a substantial increase in median weekly earnings as educational levels rise. Yet despite these potential financial gains, a significant portion of the U.S. population opts not to pursue a bachelor's degree or higher, with only 36% of those aged 25 and over holding such degrees as of 2019. This suggests that other factors, beyond the potential for increased earnings, influence the pursuit of higher education.
It's also noted that demands for advanced skills and education typically lead to white-collar, salaried positions as opposed to hourly wage jobs. The labor market tends to highly reward such positions, especially in the upper echelons where decision-making and high earnings are concentrated, though they remain out of reach for the majority of the American workforce.