Long slog for recession graduates
Economists say students who entered the job market in 2010 and 2011 took a 19% pay cut from what they could have expected without a recession. By Steve Matthews and Jeanna Smialek
Add BT as a preferred source
NICKOLE Gambrill is still paying the price for graduating college at the wrong time. She and other students who earned diplomas in the aftermath of the deepest US recession since the 1930s are experiencing an earnings hangover that could last a lifetime, even as the labour market heals.
Ms Gambrill accepted the first paralegal job she could get after finishing classes at Towson University in Maryland in December 2010, when the unemployment rate was 9.4 per cent.
"I've been here for three years, but I still consider myself entry-level," said the 27-year-old from Baltimore, who makes about US$44,000 annually. "Your raises and income are based off of your original salary. If it were a better economy, I would have started off at a higher salary."
Share with us your feedback on BT's products and services
