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Winners and Losers in this Business Cycle

Assuming that the boom ended in 2007, the new census data allows us to identify the big winners and losers in this business cycle. Obviously a high school or a college degree by itself was not enough to make you a winner.

The big surprise: Even a mere masters degree was not good enough to give you a gain in this cycle. Only a professional degree or a PhD let you avoid a real loss in in come.

Here’s the chart of the change in real median earnings from 2000 to 2007, for full time workers.

(trying out a new chart style).

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