Chart of the Day: College Grads Falling Behind

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Brad Plumer sends us to Michael Mandel, who reports:

Even as President Obama proposes some steps for student debt relief, real wages for college graduates continue to plunge. In the third quarter of 2011, full-time workers with a bachelor’s degree and no advanced degree earned 3.5% less, in real terms, than a year earlier. Male college graduates saw their real wages fall by 5.3% over the past year, while female college graduates had a 1.4% decline.

The charts below, also from Mandel, show the trend over the past decade. The net value of health insurance for these grads has increased about $2,000 in real terms since 1999, so even when you take that into account they’re still seeing a steady drop in earnings.

College grads, of course, are still doing better than everyone else, both in terms of salary and levels of employment. Still, one of the big memes of the past decade has been about the growing complexity of modern jobs and the urgent need for more educated workers. More recently, this has sometimes turned into a story about structural unemployment: the Great Recession is all about the fact that we have too many of one kind of worker (mostly semi-skilled high school grads) and too few of another (knowledge-savvy, symbol-manipulating college grads). So we need to upgrade our educational system to provide us with more of the latter. But if there were really an urgent need for a more educated workforce, surely the salaries of college grads would be going up? Instead, they’re going down. What exactly does this tell us about the demand for highly educated workers?

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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