Chart of the Day: College Grads Falling Behind

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Brad Plumer sends us to Michael Mandel, who reports:

Even as President Obama proposes some steps for student debt relief, real wages for college graduates continue to plunge. In the third quarter of 2011, full-time workers with a bachelor’s degree and no advanced degree earned 3.5% less, in real terms, than a year earlier. Male college graduates saw their real wages fall by 5.3% over the past year, while female college graduates had a 1.4% decline.

The charts below, also from Mandel, show the trend over the past decade. The net value of health insurance for these grads has increased about $2,000 in real terms since 1999, so even when you take that into account they’re still seeing a steady drop in earnings.

College grads, of course, are still doing better than everyone else, both in terms of salary and levels of employment. Still, one of the big memes of the past decade has been about the growing complexity of modern jobs and the urgent need for more educated workers. More recently, this has sometimes turned into a story about structural unemployment: the Great Recession is all about the fact that we have too many of one kind of worker (mostly semi-skilled high school grads) and too few of another (knowledge-savvy, symbol-manipulating college grads). So we need to upgrade our educational system to provide us with more of the latter. But if there were really an urgent need for a more educated workforce, surely the salaries of college grads would be going up? Instead, they’re going down. What exactly does this tell us about the demand for highly educated workers?

LET’S TALK ABOUT OPTIMISM FOR A CHANGE

Democracy and journalism are in crisis mode—and have been for a while. So how about doing something different?

Mother Jones did. We just merged with the Center for Investigative Reporting, bringing the radio show Reveal, the documentary film team CIR Studios, and Mother Jones together as one bigger, bolder investigative journalism nonprofit.

And this is the first time we’re asking you to support the new organization we’re building. In “Less Dreading, More Doing,” we lay it all out for you: why we merged, how we’re stronger together, why we’re optimistic about the work ahead, and why we need to raise the First $500,000 in online donations by June 22.

It won’t be easy. There are many exciting new things to share with you, but spoiler: Wiggle room in our budget is not among them. We can’t afford missing these goals. We need this to be a big one. Falling flat would be utterly devastating right now.

A First $500,000 donation of $500, $50, or $5 would mean the world to us—a signal that you believe in the power of independent investigative reporting like we do. And whether you can pitch in or not, we have a free Strengthen Journalism sticker for you so you can help us spread the word and make the most of this huge moment.

payment methods

LET’S TALK ABOUT OPTIMISM FOR A CHANGE

Democracy and journalism are in crisis mode—and have been for a while. So how about doing something different?

Mother Jones did. We just merged with the Center for Investigative Reporting, bringing the radio show Reveal, the documentary film team CIR Studios, and Mother Jones together as one bigger, bolder investigative journalism nonprofit.

And this is the first time we’re asking you to support the new organization we’re building. In “Less Dreading, More Doing,” we lay it all out for you: why we merged, how we’re stronger together, why we’re optimistic about the work ahead, and why we need to raise the First $500,000 in online donations by June 22.

It won’t be easy. There are many exciting new things to share with you, but spoiler: Wiggle room in our budget is not among them. We can’t afford missing these goals. We need this to be a big one. Falling flat would be utterly devastating right now.

A First $500,000 donation of $500, $50, or $5 would mean the world to us—a signal that you believe in the power of independent investigative reporting like we do. And whether you can pitch in or not, we have a free Strengthen Journalism sticker for you so you can help us spread the word and make the most of this huge moment.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate