Wages of Young Workers Declining
They're down over the last decade, in contrast to overall numbers
By Dustin Lushing, Newser Staff
Posted Mar 7, 2012 2:47 PM CST
College grads' hourly wages have dropped in last 10 years.   (Shutterstock)

(Newser) – The group getting hit the hardest by plummeting wages caused by high unemployment is the young. The hourly pay for male college graduates ages 23 to 29 fell 11% over the past decade to $21.68 while their female counterparts saw a dip of 7.6% to $18.80, reports the Wall Street Journal. By contrast, the wages for production workers and non-supervisors of all ages ticked up 3% over the same period.

"Students are realizing that they might need to take a stepping-stone job as opposed to that dream job," says one career counselor. The slashed salaries could even shake the economy more as college grads become unable to pay down debts and contribute to consumer spending.

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dawnarun
Mar 8, 2012 1:37 AM CST
If I could tell my 18 year old self something now, I'd tell her not to bother going to college. I spent 4 years teaching myself more on the internet with all the free time i had than I did in class. There were a handful of nice classes, sure, but just a handful. I treasure the relationships I made, but they weren't worth the pricetag in the end. Where I am now my education and academic connections have nothing to do with. Since I can't tell my 18 year old self that, I just tell it to every 17 and 18 year old I meet instead.
InsanelyLiberal
Mar 7, 2012 11:40 PM CST
um we're in a recession wages drop when you have a large labor pool thanks, be back to see if we report on grass being green tomorrow
ddhartma
Mar 7, 2012 7:45 PM CST
As a former hiring manager I find this as not real surprising. In a employer's market, such as we are in today, I would much rather hire someone with a degree and experience than someone with just book knowledge. I can get a quicker return on my money with someone that has a shorter learning curve with regard to putting their knowledge into practice. In today's hiring market there are so many unemployed or under-employed people with both the knowledge and experience that it will definitely being difficult for some with no practical experience.