Last week, the Census Bureau updated its personal income tables for 2013. I covered them extensively last year, and I’m disinclined to rehash that entire post since there’s little difference between 2013 and 2012 (or any two consecutive years for that matter). Just about all of what I said there still stands. It also helps that the NY Fed’s research on 25th percentile college graduates’ earnings spares me a chart for this year at least.
Nevertheless, a quick summary: The median earnings for college graduates aged 25 to 34 were just about identical to 2012. Census tracks earnings for professional school graduates, but those tend to be more volatile given the smaller sample. It’s certainly difficult to carve out law school graduates’ earnings; you’re better off looking at the law school uninfographic for that. High school graduates’ incomes fell by about four percent, which is bad.
Labor force non-participation among 25-to-34-year-olds rose a smidge in 2013. Last year, one in four high school graduates did not work, nor did more than one college graduate in eight. You can take what you will for professional school graduates.
In all, I’d say there’s slight evidence that 2013 was a harder year for high schoolers than 2012, but college grads stayed in place.
One of these days I should separate these numbers by sex. It might be illuminating.
That’s all for this week, I think.