Eroding Wages for College Graduates
With the school year coming to an end, college graduates will soon be hitting the job market. The good news is that the employment rate for young, educated workers is rising. The bad news is pay continues to decline.
The latest Snapshot from the Economic Policy Institute, illustrates how the labor market for young college grads, ages 25 to 35, is slowly improving, but remains weaker than before the last recession six years ago. “Young college graduates are still facing lower real wages than they did six years ago,” says economist Elise Gould.
After a slight rise in real hourly wages among young college graduates in 2005, their wages fell again in 2006, continuing an otherwise downward trend since 2001.
"There appear to be jobs, however, these workers seem to have little bargaining power to bid up their wages. It is possible that these workers are underemployed or there is a job quality problem, as exemplified by the low rate of employer-provided health insurance," writes Elise Gould.
The latest Snapshot from the Economic Policy Institute, illustrates how the labor market for young college grads, ages 25 to 35, is slowly improving, but remains weaker than before the last recession six years ago. “Young college graduates are still facing lower real wages than they did six years ago,” says economist Elise Gould.
After a slight rise in real hourly wages among young college graduates in 2005, their wages fell again in 2006, continuing an otherwise downward trend since 2001.
"There appear to be jobs, however, these workers seem to have little bargaining power to bid up their wages. It is possible that these workers are underemployed or there is a job quality problem, as exemplified by the low rate of employer-provided health insurance," writes Elise Gould.
Labels: bad news, college graduates, employment
posted by Lindsey B. at 9:03 AM
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