Maybe that college degree will pay off after all.
Last month, the unemployment rate of workers who hold a bachelor’s degree or higher sank to 2.8 percent, its lowest level since September 2008. That compares with a jobless rate of 5.7 percent for the overall population.
That could mean the U.S. isn’t far from a position that would have been crazy-talk not too long ago—running out of those types of people to employ, according to Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott in Philadelphia.
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