facebook
twitter
search
search

$17K wage gap between millennials with, without college degree

Feb. 11, 2014 at 2:59 PM

WASHINGTON, Feb. 11 (UPI) -- A new economic study finds younger Americans with a college degree earn on average $17,500 more per year than those with only a high school diploma.

The study, conducted by the Pew Research Center, found among Americans ages 25 to 32, so-called millennials, the income disparity between those who earned a four-year college degree and those whose formal education stopped after high school is considerably higher than in previous generations.

In addition to earning more, the unemployment rates in the two groups is considerable -- 3.8 percent for college grads, 12.2 percent for non-college grads.

In 2013, Pew said the average millennial with a bachelor's degree earned $45,500. Those without a college degree earned a median salary of $28,000, the study found. By contrast, in 1979, the spread was $42,000 for college grads and $31,300 for non-college workers.

Polling was conducted Oct. 7-27 and surveyed 982 individuals ages 18 to 34. The margin of error is 2.7 percentage points. Economic data was derived from the U.S. Census Bureau.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Kim Jong Un had terrapin farm manager executed, says source
More than 80 percent of North Korean defectors are women, says report
North Korea requests medical aid from U.N. agencies
Kenyan bishop warns Obama against pro-gay policy
Duma approves construction of $4 billion bridge to Crimea