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For work in Michigan I would like to offer up the comment that a college degree will keep you OUT of work more than it will help you get employment. The jobs available in Michigan now are mostly food service and low paying service industry jobs.
Walking in with a degree gives you the typical "You are over qualified" rejection.
Perhaps a degree is a good thing if you are able to leave Michigan to find employment to use your degree; but for me, I had to travel to the entire other side of the planet (seriously, Baghdad) to find work.