The table below is taken from the Bureau of Labor Statistics. (Table A-4)
The table shows that the unemployment rate for college grads with a B. A. is 4%. The unemployment rate for high school dropouts is 12.5%, high school grads, 7.9%, and college students earning an A. A. is 7.6%. The unemployment rate for the economy is 8.1%. It appears that getting a job with a college degree is an advantage. Unfortunately, the BLS stats don't tell you what kind of jobs the grads are getting upon graduation. Now that might be scary.