Reports from the Economic Front

a blog by Marty Hart-Landsberg

Not A Good Decade For College Grads

Here is a depressing one for the start of the new academic year.  It is by Michael Mandel and it comes from BusinessWeek, the September 28, 2009 issue.

College: Rising Costs, Diminishing Returns

This hasn’t been a good decade so far for young college grads. Full-time workers ages 25 to 34 with only bachelor’s degrees saw a sharp 11% decline in their real earnings between the end of the tech boom in 2000 and 2008. That’s according to income statistics released on Sept. 10 by the U.S. Census Bureau. The drop in pay for young college grads looks even worse when compared with the continuing rise in college costs over the same stretch (chart below). Adjusted for inflation, tuition, fees, and room and board rose 23% at private four-year schools and 36% at public institutions. The final blow: Young college grads saw a bigger pay drop, on a percentage basis, than peers with only an associate degree.

earningscollegegrads.gif

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: