Earnings of College Graduates Rebound Sharply:
““After the great
recession, there was a lot of concern about people graduating, not being able
to get a job,” said Richard Dietz, a senior economist at the New York Fed.
People became uncertain “whether a college degree was worth it anymore.”
Mr. Dietz and his
colleague Jaison Abel developed this new data, which the New York Fed will
begin to publish on a regular basis, to answer whether the benefits of college
were beginning to deteriorate.
The newest data put
that question to rest, at least for now. Bachelor’s degree holders earned a
median $43,000 last year, an increase of more than $3,000 from the year before.
That was the highest since 2003, showing that the job market for freshly minted
graduates has nearly recovered to the best years on record. Incomes are rising
even faster for college students in the best majors. The top 25% of young
college graduates earn at least $60,000 a year.”