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Princeton's Blinder: New grads at a big salary disadvantage

Thursday, May 03, 2012 - 02:42

May 3 - Princeton University's Alan Blinder says, despite an outwardly improving jobs market, new college graduates face lower starting salaries that could hit their earning potential for years.

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I -- on the campus of Princeton. University where students from what many considered to be one of the best schools in the nation who graduate in a few weeks. But for many students here and goes across the country fighting and shop in this economy is going to be soft. That's what we heard from labor market expert and Princeton economics professor Alan Blinder. There are many other college students and even Princeton students graduate now to a very weak job market this is not like getting your degree in 2007. -- -- Firms -- just. Flocking to our campus and every other campus looking for. It's much rougher many college many more college students than normal. Will face a spell of unemployment. In fact an Associated Press report finds that one and two college graduates will be unemployed or underemployed. And with such weakness -- says we run the risk of losing an entire generation of kids to this dismal job market. A recent conference board's study found that wages for new grads styles so far in 2009 and 2010. But even with the -- last year. Salaries are still 2% lower than where they were before the crisis. And it could be very difficult to climb out of that hole. High school graduates are college graduates that graduate in two very weak job market where it's not so easy to get worked and therefore become unemployed earlier on. Suffer. I don't think permanent but extremely long lasting damage to their income profile so you look at them five years ten years fifteen years later. They're still behind the hateful. Even with that's sobering news that college graduate fares much better. At Princeton itself placement rates of graduates have risen from their recent 2009 lows to more than 35%. As of 2011. And on a national scale unemployment among college graduates is significantly lower than those with just high school. It's not the guaranteed. Path to success that it was but it's still a lot better than they'll turn. Given that blinder did seem to be college graduates this piece of advice. Get employed. You may have to be less fussy he may have the lower your expectations but I think you going to be in a much better. Opposition to climb the latter. If you're from employment and from unemployment. I'm Rhonda schaffler. This is Reuters.

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Princeton's Blinder: New grads at a big salary disadvantage

Thursday, May 03, 2012 - 02:42