Chain · 6 cards
Does a degree still pay?
Young US graduates have been jobless more often than average for years. Does that mean a degree has lost its value? A chain across countries and two yardsticks: pay and unemployment.
The cards, in order
- US: young graduates' unemployment has been above that of all workers for 66 months in a row; before, it never lasted more than 11 months
So has the degree lost its value?
- US: a young bachelor earns 50% more than a high-school peer, but peers without a degree are only 34% more often unemployed, against 117% in 1990
Is it only the US?
- Germany: in 2000 young people with upper secondary education were 2.3 times as often unemployed as university graduates; in 2025, just as often
Is the graduates’ edge melting everywhere?
- Italy: in 1995 young graduates were more often unemployed than high-school peers, 21.2% against 13.4%; in 2025 less often, 6.1% against 8.6%
And in poor countries?
- World: in 31 of the 41 poorest countries unemployment is higher among people with a degree than with basic education; in the richest, in 6 of 40
Does higher unemployment mean graduates work less?
- India: 8.3% of adults with a degree are unemployed, against 1.3% with basic education
Pay and unemployment are different yardsticks
In the US a young bachelor earns 50% more than a high-school peer, though the edge in unemployment has shrunk. In Germany the unemployment gap vanished, while in Italy graduates went the other way and are now jobless less often than high-school peers. In India 8.3% of adults with a degree are unemployed against 1.3% with basic education, yet both work almost equally often. No single yardstick says whether a degree pays.