You have JavaScript turned off! Javascript is required for the best experience on this site.

All Charts

Chart Sep 26, 2017

Labor Market Slack has Declined Since the Great Recession

While in the long run real wage growth depends on productivity and the distribution of gains from productivity, over shorter time horizons wage growth can be determined by the supply and demand for labor. When there is extensive slack in the economy—such as during a recession or the early phase of a recovery, when labor and capital are underutilized—wage growth can be temporarily lower. At these times, there are more unemployed workers and hiring demand is low, both of which put downward pressure on wages.

Chart Sep 26, 2017

Nominal Wage Growth is Lower than in Past Business Cycles

This figure shows that nominal annual wage growth has been just 2.4 percent since the start of the Great Recession, contrasting with nominal wage growth above 3.0 percent in each of the previous business cycles. Typically, nominal wage growth rises later in expansions and falls during recessions, while real wage growth may jump up or down with variation in inflation. But the most recent expansion has seen little uptick in nominal wage growth, especially in contrast to the previous three expansions.

Chart Apr 26, 2017

Fraction of Defaulters, by Amount of Student Loan Debt

This chart shows the distribution of the amount of debt on which students who entered repayment in 2011 defaulted on their debt. Defaulting on federal student loans has consequences for borrowers beyond affecting credit scores. There are direct financial consequences to default such as wage garnishment and offsets of tax refunds and Social Security payments. Among those who defaulted on their student loans, two thirds defaulted on less than $10,000.

Chart Apr 26, 2017

Age Distribution of Undergraduate Students, by Type of Institution

This chart shows the age distribution of undergraduate students by the type of institution in which the students were enrolled in 2015. While the plurality of students at both four-year and public two-year institutions are between the ages of 18 and 24, students at for-profit institutions tend to be older: almost half are age 30 or older. Nonetheless, more than 20 percent of undergraduate students at four-year institutions are over the age of 24.