College grads may find it harder to pay of student debts.
A study from the Economic Policy Institute shows that the average hourly wage for male college graduates between ages 23 and 29 dropped 11 percent over the past 10 years to $21.68 in 2011, according to the Wall Street Journal. Female grads also saw a drop in wage by 7.6 percent to $18.80.
"New college graduates have been losing ground for 10 years,” Lawrence Mishel, president of the Economic Policy Institute, told the Wall Street Journal.
The institute got the number from regular government wage surveys.
The data indicate a struggling economy where consumers are struggling to pay down debts and revive the economy.
Many students have had to take lower paying jobs in order to make ends meet.
"Students are realizing that they might need to take a stepping-stone job as opposed to that dream job," said Amy Bittner, a career counselor at Point Park University, told the Wall Street Journal.
EMAIL: [email protected]