|Shrinking Hourly Wages|
In a news article entitled For Graduates, a Shrinking Payoff, young college graduates do not only have to hurdle the high unemployment rate but they also have to face the shrinking entry-level hourly wages. This means that the hourly wages young college graduates received in 2010 are substantially lower than the wages young college graduates received in 2000.
According to a study conducted by Heidi Shierholz, the entry-level hourly wages for college-educated men (without advanced degrees) were $21.77 in 2010, down 4.5 percent from $22.75 in 2000. For college-educated women, entry-level wages were $18.43 in 2010, the study found, down 5.2 percent from $19.38 10 years earlier.
Considering that the unemployment rate may remain at above 8% until 2004, young college graduates should be very intelligent on how they spend their money.
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