NEW YORK (CNNMoney.com) -- Graduates in the class of 2010 are making a little less money at new jobs than those who finished school last year, with the weak economy the prime culprit, according to a report released Thursday.
The National Association of Colleges and Employers said the average starting salary for this year's bachelor's degree recipients dipped 1.3%, to $48,661.
"It's just a simple supply-and-demand result of what's going on the economy right now," said association spokeswoman Mimi Collins. "You just have fewer opportunities all the way around."
Among the fields with lower salaries were psychology majors, whose starting pay dropped 5.6%. Computer engineering salaries declined 2.9%, while history majors' pay was down 2.1%
But English majors enjoyed a salary increase of 7.1% this year, and sociology grads' pay rose 5.7%.
Economics graduates saw their average salary ramp up by 2.1%, while information sciences grads got 5.7% more.
Those with engineering degrees other than computers experienced modest salary increases. Chemical engineering majors' pay rose 1.1% to an average starting salary of $65,628, among the highest for all new grads.
UBS is the latest major bank to get sucked into a U.S. probe over 'dark pool' trading venues. More
New annual report from U.S. government shows the long-term prognosis for Medicare has improved thanks to slower health spending, while the outlook for Social Security remains unchanged. More
Apple bought the Pandora of news radio, Swell, for a reported $30 million. More
Steve Mason, a pastor from California, inherited more than $100,000 in student loan debt when his 27-year-old daughter died suddenly in 2009. With interest and late penalties, the debt has since ballooned to $200,000. More