Job Market Faces New Problem, Hitting One Unlucky Group Really Hard
by Matt Nesto, August 7, 2013
"Despite ever increasing average tuition costs for a four-year degree ($63,000 public, $130,000 private), the pay-out when the cap and gown comes off is actually going down. In fact, Colas says recent grads now earn about $3,200 less today than they did in 2000. "It's much less, up to 30% less in many cases," he says.
Of course, the driving factor behind this new post-collegiate hardship is a very sluggish recovery following the great recession of 2008. Another facet adding to the problem is the fact that fewer people are retiring at 65, and are choosing to work longer to beef-up their retirement nest-eggs which were slammed during the financial crisis."