Unemployment has consistently been far lower for college graduates than for less-educated workers, especially during bad economies. In the early months of COVID-19, for example, the unemployment rate among high school graduates spiked to almost 18%, compared to just 8% for bachelor’s degree holders. Looking back further to 2000, the unemployment rate has averaged 5.9% for high school graduates, but only 2.9% for college graduates. Key takeaway: A college diploma has become a necessity for finding and keeping a good job.