Wednesday, March 7, 2012

WSJ: "Young Adults See Their Pay Decline"

Wall Street Journal March 7 2012 p. A3.

The article reports that the Economic Policy Institute found that "average inflation-adjusted hourly wages for male college graduates aged 23 to 29 dropped 11% over the past decade to $21.68 in 2011. For female college graduates of the same age, the average wage is now down 7.6% to $18.80."

Majia here: I'll have to track down the report and look at the mean, mode, and median. 

The numbers above reflect the mean, but I wouldn't be surprised if the mode and median are lower and the mean is skewed by some high earners because I can tell you that most of my college graduates over the last 10 years have not been finding jobs earning $40,000 a year. Most of my former students are lucky to be making $30,000.

From the same article: for men aged 19-25 with a high school degree only, average wage was down 10% to $11.68

For women of the same category, the average wage is now at $9.92, a decline of 9.2%.

Majia here: In 2010 I reported that "Poverty Rate 42.8% for 25-to-34-Year Olds"
Dougherty, C., & Murray, S. (2010, September 17). Lost Decade for Family Income. The Wall Street Journal, p. A1, A4.

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