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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