The year you graduate matters

From Marginal Revolution, this NYT article on how hard it is to climb the career ladder if you start low, and how starting positions vary by graduation year.

What would I do with this info if I was a college student? Obviously work hard to find a great entry position. But also consider the strategy of moving graduation date out a year or going to grad school if the job market is weak — this has always been a choice, here is some data to back it up.