Does a college education pay off?

A new report says generally "yes," but the correlation isn't as strong as it used to be:

http://cew.georgetown.edu/collegepayoff/

My personal suspicion is that a liberal-arts education is no longer a guaranteed ticket to a successful career. Back in the day --- my day, i.e., some 40 years ago --- you could study history or poli sci or English or whatever, and be pretty sure somebody was going to give you a job, just because you were a college grad. The better the college, the better the first job, as a general rule. My gut tells me this is less likely today.