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Posted by: Michael Mandel on August 26
Assuming that the boom ended in 2007, the new census data allows us to identify the big winners and losers in this business cycle. Obviously a high school or a college degree by itself was not enough to make you a winner.
The big surprise: Even a mere masters degree was not good enough to give you a gain in this cycle. Only a professional degree or a PhD let you avoid a real loss in in come.
Here’s the chart of the change in real median earnings from 2000 to 2007, for full time workers.
(trying out a new chart style).
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.