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US – 260,000 graduates in minimum wage jobs

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. Capture d’écran 2014-03-31 à 08.56.34 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.

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