The College Degree - It Ain't What It Used to Be, But What's the Alternative?

Good news and bad news related to your college degree and the economy:

First the bad news from the Washington Post:

"In fact, labor economists say the unemployment rate for workers with a bachelor's degree or higher is poised to hit a record high. This recession is so far-reaching, they contend, few are immune from the consequences.

"In a flood everyone gets swept away," said Lawrence Mishel, an economist with the liberal Economic Policy Institute in Washington.

In November, the unemployment rate among workers with a college degree or higher reached 3.1 percent. While that figure is modest compared with the national unemployment rate of 6.7 percent -- and nowhere near the 10.5 percent unemployment rate among those without a high school diploma -- it hasn't been that high since 2003. Because the unemployment rate tends to lag behind other economic indicators, analysts think unemployment among college-educated workers is likely to surpass 4 percent, which would be the highest rate since the Bureau of Labor Statistics began tracking unemployment by education level in 1970."

Now for the good news.  Make the glass half-full if you have a degree, and realize that without it, you'd be two to three times as likely to be out of work.

Can we channel a little optimism, please?