Economist Michael Mandel posts the following graphs demonstrating a wickedly pernicious trend among young college graduates:
He also asks a set of interesting questions:
I want to ask an economic question, a political question, and a policy question. First, no one has given me a good explanation yet of why young American college grads should have been hit so hard. Is there increased competition with young college grads around the world? Are new college grads lower quality than their predecessors? Has information technology reduced the need for young grads? I really would like to know.
In addition to this I would like to know if there is a similar trend among other demographics with similar levels of education. Are older graduates finding themselves earning less than their predecessors? Does the trend apply across disciplines?