From the AP:
David Neumark, an economist at the University of California, Irvine, said a bachelor's degree can have benefits that aren't fully reflected in the government's labor data. He said even for lower-skilled jobs such as waitress or cashier, employers tend to value bachelor's degree-holders more highly than high-school graduates, paying them more for the same work and offering promotions. In addition, U.S. workers increasingly may need to consider their position in a global economy, where they must compete with educated foreign-born residents for jobs. Longer-term government projections also may fail to consider "degree inflation," a growing ubiquity of bachelor's degrees that could make them more commonplace in lower-wage jobs but inadequate for higher-wage ones.

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