College degrees don't always equal big bank accounts

By: Matt McGovern Email
By: Matt McGovern Email

About 260,000 graduates made at or below the federal minimum wage of $7.25 per hour last year.

Having a college degree doesn't guarantee you a high-paying job.

(CNN) - Having a college degree doesn't guarantee you a high-paying job.

About 260,000 graduates made at or below the federal minimum wage of $7.25 per hour last year, according to the Bureau of Labor Statistics. That's the lowest number since 2008.

The worst year was 2010, when the number skyrocketed to 327,000. Experts blame the post-recession labor market for the number of college grads stuck in low-paying jobs.

But things may be looking up. A total of 21 states, including New Jersey, New York, and Connecticut have approved raising their minimum wage.


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