About 260,000 people who had a college or professional degree made at or below the federal minimum wage of $7.25 per hour last year, according to the Bureau of Labor Statistics. Things may be looking up a little, though — it’s the smallest number since 2008. The worst year was 2010, when the number skyrocketed to 327,000. Despite the recent improvement, the number of workers with college degrees is still more than double what it was in 2005, prior to the Great Recession. While an improving economy might play a role in graduates snagging better-paying jobs, other less-encouraging factors might also be at play. A total of 21 states, including New Jersey, New York and Connecticut recently, have higher minimum wage floors than the federal level of $7.25 per hour Experts point to shifts in the post-recession labor market as the reason for so many college graduates in low-paying jobs. “The only jobs that we’re growing are low-wage jobs, and at the same time, wages across occupations, especially in low-wage jobs, are declining,” said Tsedeye Gebreselassie, a staff attorney at the worker advocacy group National Employment Law Project.
Chosen excerpts by Job Market Monitor. Read the whole story at 260,000 graduates in minimum wage jobs | Money – Home.
- Minimum wage in US – Over 500 economists sign a petition to the President against an increase
- Low-Wage Workers and Poverty in US – Harder to Escape
- Minimum Wage and Poverty in US – The income boost would be less than $1.00 for each $1.00 increase in gross earnings writes Congressional Research Service
- Minimum Wages and Living Wages in US / A map
- Minimum Wage Estimated Impacts in US / CBO Director defends position
- Minimum Wage in US / Much of the empirical evidence suggests that it fails to alleviate net poverty says CATO
- US / Closing the Gender Wage Gap by Raising the Minimum Wage
- US / Fast-food workers on strike for a ‘living wage’
- NAFTA – Nearly 700,000 U.S. jobs have been lost or displaced writes the AFL-CIO