Looks like a better job market this year for college graduates. From The Huffington Post.
For the class of 2016, it’s the best job market in years. The number of employers looking to hire college graduates this year is the highest in nearly a decade, according to a survey out Thursday.
But if you’re a male college graduate, your job prospects are even better. Fresh out of college, men far outstrip women when it comes to wages.
Male college graduates, ages 20 to 24, earned 8 percent more in 2016 than they did in 2000.
Meanwhile, their female counterparts made nearly 7 percent less than they did in 2000, according to a different report released Thursday by the Economic Policy Institute. The average male college graduate was making $20.94 an hour; the average woman made $16.58, according to EPI’s research.
The culprit? Wages are rising fast for men at the very top of the college pyramid, while pay is basically flat for the rest of us, the researchers say.
“Growing inequality among grads is pulling up the average wage for men and contributing to the gender wage gap,” Elise Gould, a senior economist at EPI who coauthored the study, told The Huffington Post.
In the U.S., men on average make more than women — at every income level — for a variety of reasons, including discrimination, job and college major choice, and work experience. The EPI data pinpoints a new culprit — rising income inequality is pushing men and women’s wages apart. Indeed, the gender wage gap is highest for the highest-earning Americans.
Female college graduates earn 79 cents on the male dollar, according to EPI. The pay gap is narrower for women with only a high-school education — 92 cents on the dollar. In fact, female high school graduates, ages 17 to 20, who aren’t enrolled in college, saw wages rise by 1.6 percent since 2000. Their male counterparts’ wages fell over that period by 5.7 percent. EPI attributes this group of women’s wage growth to increases in the minimum wage passed in some states and cities — which disproportionately affected low-income women who are more likely to work at the wage floor.