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.
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.