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By 
May 03, 2019 at 05:03 PM
As families get ready to spend thousands of dollars for the upcoming college academic year, some wondering if they’re making a worthwhile investment, consider this: New college grads consistently earn between 50% and 70% more than young workers without a college degree, according to data from the Federal Reserve Bank of New York.
Moreover, the unemployment rate of new college grads, defined as those aged 22 to 27 with a bachelor’s degree, is consistently about half the jobless rate for young workers who don’t have a degree. Even during recessions, new college grads fare much better than their non-college counterparts.
In the most recent data published by the New York Fed — for March 2019 — the unemployment rate for new college graduates was 3.7% versus 6.8% for young workers. The jobless rate for all workers was 3.7% and for college graduates 2.2%.
The median income for new college graduates in 2018 was $44,000, almost 60% more than the $28,000 median income for high school graduates. Both are figures are reported in 2018 dollars.
Recent college graduates also had lower rates of underemployment compared with previous years. The underemployment rate refers to having jobs that don’t require a college degree.
