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College degrees protected recent grads from great recession’s worst


It was a defining image of the Great Recession: floundering college grads stuck back home, living in mom and dad’s basement. But while rooted in some truth, that picture doesn’t show fully how the prolonged economic downturn broadly impacted people in their early 20s, according to a new study out Wednesday, the Associated Press reports. In fact, those degrees offered strong protections against the recession’s worst effects. The study, an analysis of U.S. Census data by the Pew Economic Mobility Project, makes no claim recent years have been golden ones for new college graduates. Wages were down and have yet to recover, unemployment and student debt were up, and fewer grads have found jobs befitting their education-level. But the report finds all of those negative effects came in much smaller doses for college graduates than for those with associate’s degrees and only a high school credential, and that fewer graduates fell out of work entirely…

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