College graduates wages have dropped 5.4%

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A new study by the Economic Policy Institute found that wages for young college graduates dropped 5.4% in the last ten years after rising 19% under President Clinton. Currently – nearly half of college graduates in America are unemployed or underemployed and drowning in a trillion dollars of student loan debt.

Studies have shown that college graduates entering the job market in a strong economy will earn far more in wages over the course of their life than graduates entering the job market during poor economic times. It’s crucial that our lawmakers direct economic stimulus toward the next generation of leaders, inventors, and entrepreneurs with student loan debt relief, jobs programs, and lower education costs. They’re the ones we should be helping, and not the Romney super-rich who Republicans like Paul Ryan are currently trying to give a $3 trillion tax cut to.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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Dec. 29, 2009 9:59 am

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I doubt there was a wage drop for the grads who went to Wall Street.

lovecraft
Joined:
May. 8, 2012 11:06 am

This whole you need an education for the jobs of the new economy has been a farce since Reaganomics. It's all part of a plan to making working people poor and therefore subservient. It has been done by expanding the labor pool for the same limited number of jobs. Taft-Hartley opened up good paying union jobs to cheaper, less protected labor in the South, making the labor pool larger. Then came free trade where companies can legally exploit the poor around the world making our labor pool larger by billions. Now, we've put people in debt, through higher education and easy credit, making sure to change the bankruptcy laws in favor of those who make the loans before the economic collapse. We are going to raise the retirement age and make retirement nearly impossible to afford, further expanding the labor pool. And now even progressives want to expand the labor pool even more by allowing worker visas, (importing cheap labor). It's all about supply and demand. It's that simple. Over supply labor and under supply jobs and you have a race to the bottom.

pacecop
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