I want to ask an economic question, a political question, and a policy question. First, no one has given me a good explanation yet of why young American college grads should have been hit so hard. Is there increased competition with young college grads around the world? Are new college grads lower quality than their predecessors? Has information technology reduced the need for young grads?- and got about 30 different answers.
15 November 2011
Declining salaries of college graduates
These graphs were posted at Mandel on Innovation and Growth, and discussed at Sociological Images. At Boing Boing, Cory Doctorow asked this question -
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Information technology hasn't reduced the need for young college grads, it's reduced the need for young college grads who are paid well in the west.
ReplyDeleteBingo, JD. I'm surviving these days by managing software developers from developing countries.
ReplyDeletenever mind....why are females still making something approaching 30% less?
ReplyDeleteThe quality of grads is also steeply declining. Stories of people requiring a college degree to find a job applicant that can read... and fail to do so are abundant.
ReplyDeletewell, the obvious answer is that a progressive think tank with an axe to grind is lying.
ReplyDeletehttp://upload.wikimedia.org/wikipedia/en/e/e0/Income_Education_91_to_03.jpg
Wow, and here I was, a young college grad thinking, "the average is at least 10k more than anyone I know makes."
ReplyDeleteWhat hit me was what the first Anonymous commented on: young female college grads are making significantly less than their male co-graduates...
ReplyDelete