Study: wages will decline for a changing workforce: "The change is the result of two factors, the report's authors argue. Baby boomers, the nation's most educated generation, are retiring. Meanwhile, Hispanics and blacks are a growing proportion of the population, and they are less likely than whites to have college degrees. In New York, for example, they are expected to be 35 percent of the state's population by 2020.

If the education of these minority groups does not improve, per capita income would drop from $23,404 in 2000 to $22,222 in 2020 ? a decline of $1,182, or 5 percent when adjusted for inflation, the study predicts.

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