Liberal academia continues to be a failure for our children.
From the LATimes:
Newly minted college graduates lucky enough to find a job after leaving school are in for a shock: They’ll likely be earning less money than they would have a decade ago.
Under Obama, 1 out of 2 college graduates are unemployed. Is this the fundamental change Obama promised?
Since 2000, these young workers have seen inflation-adjusted wages deteriorate, according toresearch by the Economic Policy Institute.
Here’s the math: In 2011, fresh college grads earned an average of $16.81 an hour, or about $35,000 a year. That’s down 5.4% from 2000. Women fared worse than men. Their wages declined 8.5% to $15.74 an hour over the same period while those of men dipped 1.6% to $18.29 an hour.
The decline means real money: roughly a $2,000 drop in annual earnings, according to EPI.
Everyone use to be more wealthy before Obama took office. Now due to Obamanomics, everyone is making less as Obama spends more.
So why are real wages declining for new college grads? Economists point to a variety of factors, including two recessions in the last decade, the continued loss of jobs offshore and automation that has affected even white-collar fields such as law and technology. Some contend that colleges are churning out too many liberal arts majors and not enough scientists.
Too many liberal arts majors? Anyone who has been to college always laughs at those who boldly proclaim to be a liberal arts major. These are the ones who usually become unmotivated teachers or professors.