Obviously the issues go hand in hand. People drop out of school when they don't feel they have any hope or reason to graduate, because there are no jobs. That's what I hear where I volunteer at Detroit high schools.The recession and weak recovery has hurt blacks and Hispanics more than anyone else, and there are few signs of recovery for them.
I disagree a little with you here, because that's a nonsensical argument. "I'm going to drop out of high school because there are no jobs, therefore making it harder for me to find a job...?"
High school dropouts happen for a lot of reasons, i don't want to reduce it to just one. But gang and drug activity in the neighborhood is a HUGE one. For instance:
*drug money now is easier than job money 2 to 3 years from now
*three strikes laws and criminalization of marijuana remove fathers and role models from the community
*violence in and around the school may mean it's simply safer NOT to go.
Decriminalizing/legalizing marijuana gets rid of a big chunk of this, and smarter policy re: enforcement gets rid of the rest. Education reform in general would go a long way towards ensuring that schools that would LIKE to do a better job educating students have the financial means to do so. "jobs" is a short term band aid that does not address the root of the problem. You can create more "jobs", but still have a dysfunctional school system and a destroyed community.