College grads have a hard time, too
02/12/2014 12:02 PM
02/12/2014 12:19 PM
Re "Widest earnings gap for college grads in 48 years" (Sacbee.com, Feb. 11): A Pew study found that the median wage for full-time workers between the age of 25 and 32 with college degrees increased from $44,770 in 1986 to $45,500 in 2013, a rise of 1.6 percent.
This comes to an increase of .06 percent a year.
By comparison, productivity rose 72.5 percent over this period, an average of 2 percent per year during this period.
It is worth noting that the unemployment rate for college educated workers of all ages was 3.7 percent in 2013. This is higher than for any year prior to the recession since this series was started in 1992.
While people without college degrees have been big losers, the Pew study shows that young people with college degrees have not been big winners in the economy over the last quarter century.
-- Gary Fitzgerald, Carmichael
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