Morning Business Report: Graduates face lower salaries as markets react to global tensions

New college graduates entering the workforce this year may need to adjust their salary expectations.

(LILAMAX)- New college graduates entering the workforce this year may need to adjust their salary expectations as new data shows a significant gap between what students expect to earn and what employers are actually paying.

A recent report found members of the Class of 2026 expect to make an average of $80,000 within one year of graduation. However, according to research from Clever, the actual average starting salary for recent graduates is closer to $56,153 — roughly 30% lower than expected.

The report highlights growing concerns among young professionals navigating a competitive job market and rising living costs.

Meanwhile, Spirit Airlines is moving forward with its official wind-down process and preparing to sell off company assets.

The airline plans to temporarily retain around 150 employees during the shutdown process before reducing that number to approximately 40 workers in the coming months.

On Wall Street, markets saw sharp declines amid ongoing instability in the Middle East.

The Dow Jones Industrial Average fell roughly 500 points while oil prices surged 5% after Iran’s closure of the Strait of Hormuz continued disrupting global oil shipments during the ongoing conflict involving the United States and Israel.

The shipping bottleneck has left oil tankers backed up in the Persian Gulf, fueling concerns over energy supplies and inflation.

Despite broader economic uncertainty, the U.S. movie industry is seeing renewed momentum.

Industry analysts say the domestic box office is up by double digits so far this year, with major summer releases expected to continue driving strong ticket sales.

Disney is expected to dominate the summer lineup with major franchises including Star Wars, Moana, Toy Story 5 and Spider-Man.

Films including Michael and The Devil Wears Prada 2 are also seeing strong performances in theaters.

Some entertainment executives say this is the first year the box office has truly felt “normal” since the COVID-19 pandemic disrupted the industry.

In another report, researchers found long-distance relationships are becoming increasingly expensive.

A survey conducted by Talker Research on behalf of Mayflower found couples in long-distance relationships spend nearly $7,000 combined on travel costs over the course of their relationship.