{"id":14940,"date":"2010-05-11T10:41:09","date_gmt":"2010-05-11T15:41:09","guid":{"rendered":"http:\/\/thesocietypages.org\/socimages\/?p=14940"},"modified":"2013-12-15T03:14:37","modified_gmt":"2013-12-15T08:14:37","slug":"happy-graduation-2","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2010\/05\/11\/happy-graduation-2\/","title":{"rendered":"For Today’s College Grads, Economic Depression Will Last a Lifetime"},"content":{"rendered":"

Existing data suggests that, for college students graduating during an economic recession, wage depression will follow them throughout their life.\u00a0 The figure below shows that, for every one percentage point increase in the national unemployment rate, a college grad’s wages will drop by about six percent.\u00a0 Five years later, their wages will still lag by five percent.\u00a0\u00a0 Fifteen years later they’ve recovered their losses to about three percent, but they’re still behind where they would have been.\u00a0 And remember, this data is for each percentage point increase<\/em> in the unemployment rate.<\/p>\n

\"10_22_09_graph-1\"<\/p>\n

Data borrowed from the Office of Management and Budget<\/a>, via Matthew Yglesias<\/a>.<\/p>\n

For more happy graduation news, see here<\/a>.<\/p>\nLisa Wade, PhD<\/a> is an Associate Professor at Tulane University. She is the author of <\/em>American Hookup<\/a>, a book about college sexual culture; a textbook about gender<\/a>; and a forthcoming introductory text: <\/em>Terrible Magnificent Sociology<\/a>.\u00a0You can follow her on Twitter<\/a> and Instagram<\/a>.<\/em><\/span>","protected":false},"excerpt":{"rendered":"

Existing data suggests that, for college students graduating during an economic recession, wage depression will follow them throughout their life.\u00a0 The figure below shows that, for every one percentage point increase in the national unemployment rate, a college grad’s wages will drop by about six percent.\u00a0 Five years later, their wages will still lag by […]<\/p>\n","protected":false},"author":51,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[29,36,12498,34,76],"class_list":["post-14940","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-class","tag-economics","tag-economics-great-recession","tag-education","tag-work"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/14940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/comments?post=14940"}],"version-history":[{"count":16,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/14940\/revisions"}],"predecessor-version":[{"id":60239,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/14940\/revisions\/60239"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media?parent=14940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/categories?post=14940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/tags?post=14940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}