Americans with a college degree saw wages decline the most in two decades

Americans with a college degree saw wages decline the most in two decades, per Bloomberg.

In 2022, median annual pay was $52,000 for Americans with a bachelor’s degree, according to data released by the New York Federal Reserve Friday.

That’s a 7.4% decline in inflation-adjusted terms — the steepest plunge since 2004, erasing nearly all of the pandemic-era gains. It was sharpest for those earning the most.

Meanwhile, wages accelerated 6% in real terms to $34,320 for those with only a high-school diploma — the biggest gain in more than two decades.

Recent graduates are still able to find work pretty quickly, with an unemployment rate of 4.1% in December. That compares with 3.9% in March 2020.

Read full article: https://www.bloomberg.com/news/articles/2023-02-10/americans-with-a-college-degree-saw-wages-decline-most-in-two-decades