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The New York Fed recently published a piece noting that declines in real or inflation adjusted median income is the new normal for much of the workforce and that this trend was accelerating. It went on to note that men have seen a 4% decline since 1973, conversely women saw a 36% increase over the same period. Another very interesting detail the report broke down wage gains by age and education level for white males. As you would expect wages rose sharply in the beginning of one’s career but slowed into middle age. The shocker was that the study noted that wage gains went negative earlier for those who went to college than for those with a High School Diploma or less education. The gap was 10-years or better depending on the cohort and those with a Bachelors Degree saw negative real wage growth earlier than any other cohort. Conversely High School dropouts continued to see wage gains longer than anyone else, though once negative they fell sharply.


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