What is the outlook for the class of 2023?

EPI gives an overview of the economic state of the class of 2023 in their Class of 2023 post by Elise Gould, Katherine deCourcy and Jori Kandra (5/24/2023). Two findings:

Workers of all ages have experienced stronger-than-usual wage growth in the pandemic business cycle (February 2020 to March 2023)—even after accounting for high inflation—but young workers were not left behind like they have been in previous business cycles.

Entry-level high school graduates (ages 17–20) saw real wage growth three times as fast as entry-level college graduates (ages 21–24) in the pandemic business cycle.

The figure here is one of four with data available in the article. The interesting thing here is the Hispanic pay which is about $0.85 more than White and Black pay. What explains this? Could there be a regional effect?

Check out my other site Briefed by Data.


About Thomas J. Pfaff

Thomas J. Pfaff is a Professor of Mathematics at Ithaca College. He created this website because he believes that sustainability, ranging from climate change to social justice, should be included in all courses whenever possible.

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