Dive Brief:

• The latest figures show that the unemployment rate for workers with bachelor’s degrees dropped to its lowest level since September 2008, to 2.8%.
• Overall, the U.S. unemployment rate was 5.7%.
• The low unemployment rate could mean that the U.S. economy is running short of employable people with bachelor’s degrees, Bloomberg reports.

Dive Insight:

This is good news for four-year higher education institutions, and for their graduates. Besides having a better chance of landing a job, bachelor’s degree recipients could also benefit as employers compete for their services. The overall average hourly earnings rose 0.5% in January, which was the strongest growth for wages since November 2008.