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Depends what the degree is in. A metallurgical engineer has a greater chance of getting a job than a philosophy major fresh out of school.
We're talking about on the average. When I went to college I vividly remember a table-tent showing how much more money I'd make with a college degree than just a high school diploma. I dropped out after my first year and make more than my wife does with a masters and a good paying job. There are exceptions, but unless you're getting a degree in something very specific and marketable it's a pretty big gamble.