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Posts Tagged ‘salaries’

The Great Recession came and went, and so did salaries and other compensation for people graduating with four year college degrees. The corporate news media continues to shower us with propaganda about why this has occurred.

Bloomberg news claims “technology and automation” have caused this decline. Only in the United States does there appear to be a problem with automation. It is strange how there is an overabundance of US manufacturing jobs in China, Vietnam and elsewhere. Those factories employ accountants, bookkeepers, managers, attorneys, and many more white collar employees. Those factories also purchase things from other local businesses that supply materials and designs and other things that employ white collar workers. Those factories used to be in the United States. And now they’re not. See https://www.bloomberg.com/news/articles/2017-03-30/u-s-college-grads-see-slim-to-nothing-wage-gains-since-recession

Those H1-B visa’s are also putting downward pressure on wages, as well as exporting high tech jobs to India and other nations.

Exporting jobs overseas by the tens of millions is why wages have declined on average for new college graduates, and why compensation has stagnated for older workers, and why wages have declined over the last thirty-six years. There are other reasons, but automation is not one of them. See Jobs: The Largest US Export Product–JohnHively.wordpress.com

As for those declining wages for new college graduates, what you study matters for your salary, the data show. Chemical and computer engineering majors have held down some of the best earnings of at least $60,000 a year for entry level positions since the recession, while business and science graduates’s paychecks have fallen. A biology major at the start of their career earned $31,000 on an annual average in 2015, down $4,000 from five years earlier. Some majors, such as petroleum engineers, have seen a bump in earnings for those just coming into the job market.

On the other hand, people with graduate degrees are still getting a bump in their salaries upon graduation.

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Taco Bell Workers and Wages Compared to CEO’s and Their Salaries

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According to a study by the Economic Policy Institute, “Median inflation-adjusted wages in 2000 were $629 per week for high school graduates and $1,030 per week for college graduates holding a bachelor’s degree but no advanced degree. Nine years later, median weekly wages stood at $626 for high school graduates and $1,025 for college graduates. For college graduates, the change equates to $1 per day less, based on a five-day work week. The Figure also shows that, contrary to popular assumptions, the wages of college graduates did not grow at a faster rate than for high school graduates.”

Good job Republicans! Way to go Corporate Democrats! Now they want to do that to us again!

Click here for "Another day, one less dollar"

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