High school graduates are losing ground fast

hobo with cardboardWe’ve known for awhile that incomes have been dropping for people with only high school educations. But there was a statistic in a recent Pew Research Center study that really set me back on my heels: 22% of people aged 25 to 32 who graduated high school, but not college, live in poverty. That compares to 6% of people with college degrees.

The poverty rate overall and for the college educated has doubled since 1979, when the early wave of the Baby Boom was in the same age bracket. For those with just a high school diploma, though, the rate has more than tripled.

Meanwhile, the earnings gap between college graduates and high school graduates is the widest it’s been in 50 years.

For more on the Pew study, read my latest Reuters column. You can subscribe here to weekly updates of my education column.


Wednesday’s need-to-know money news

Today’s top story: Five credit card mistakes that you can fix. Also in the news: Staying financially fit in the new year, making 2014 the year you get out of debt, and how to give your paycheck a boost.Credit Check 1

5 Credit Card Mistakes You Can Fix
How to right credit card wrongs.

5 Ways to Stay Financially Fit in 2014
Getting your wallet in shape.

Why 2014 is the year to get out of debt
There’s no better time than the present.

4 Ways You Can Earn More in 2014
Give your paycheck a boost.

How to Cure Your Post-Holiday Financial Hangover
A little hair of the dog won’t help.