The following chart shows wage growth (or lack of) 60 months into the most recent economic “recovery”, which is at the lowest point since World War II.
Furthermore, the employment situation is no more rosy:
“The bottom line is, we’re a million miles from full employment,” said [David] Blanchflower, a Bank of England policy maker from 2006 to 2009 [a professor of economics at Dartmouth College in Hanover, New Hampshire]. “Workers are struggling, and they don’t see signs that things are suddenly going to change.” (Bloomberg News, August 18, 2014)
With a less-than-optimistic employment outlook, plus stagnant income, all while college tuition escalates annually, families’ confidence in a college degree may be tottering.