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Posted by: Michael Mandel on September 08
I’m sorry for obsessing about this, but I can’t help it. I really do wonder whether we’ve passed over a critical threshold where a college degree alone is no longer enough.
The youngest workers are the ones who are at most risk. Real earnings for workers aged 25-34 with a bachelor’s degree have fallen by almost 10% since 2000. Young college-educated workers saw their real earnings drop by 5% in 2004 alone. That’s astounding, and very depressing.
This chart plots real wages for young, full-time workers with a bachelor’s degree only. What kind of a labor market is this?
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.