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Updated: 11:17 a.m. Wednesday, May 16, 2012 | Posted: 11:16 a.m. Wednesday, May 16, 2012
Staff report
The wages of young college graduates have fared poorly during the Great Recession and its aftermath, according to a report released Wednesday by the Economic Policy Institute.
In 2011, young college graduates had an average hourly wage of $16.81 per hour, which translates into an annual income of roughly $35,000 for a full-time, full-year worker. Average hourly wages for young female graduates remain substantially less (13.9 percent) than those of young male graduates, EPI said.
Between 2007 and 2011, the wages of young college graduates dropped 4.6 percent (5.1 percent for men and 4.1 percent for women). But wage growth of young graduates was weak even before the Great Recession began; they have fared poorly over the entire period of general wage stagnation that began during the business cycle of 2000–2007, EPI said.
Between 2000 and 2011, the wages of young college graduates dropped 5.4 percent — 1.6 percent for men and 8.5 percent for women, the private, non-profit think tank said.
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