AFSCME 3357-HOF'S BLOG

Wall Street Journal: It takes a Doctorate to Beat Inflation

According to David Wessel's October 16, 2006 "Capital" column in the Wall Street Journal (paid subscription required), the only group of Americans whose wage gains exceeded inflation in 2000 to 2005 were those with Doctorate degrees. We (our education group anyway) beat inflation by 10.6%. If you didn't finish high school, your wages went down 4.6% after inflation.

Wessel also cites statistics gathered by a researcher at University of California, Berkley showing that wincome inequality in the US is getting worse. In 1984, the top 1% of income earners earned 9% of all income. In 2004, it was 16% of all income.