College grads will soon find low wages await

March 7, 2012 4:35:33 PM PST
Millions of college graduates will be heading into the workforce in a few months, but it'll be tough going since wages aren't what they used to be.

The economy is slowly improving, but wages are not, at least not for college grads.

A new study finds they're earning an average of 9 percent less than they did 10 years ago.

Wages for male graduates dropped 11 percent, to $21 per hour. Pay for female grads fell about 8 percent. The women still earn less than men -- about $19 per hour.

The rest of the workforce doesn't fare much better, earning an average of $23 an hour. A big concern is trying to pay off student loans on a skimpier salary.