Each month, the New York Department of Labor issues a paper newsletter entitled Employment in New York State, summarizing unemployment trends for the state. August’s report (PDF) included a particularly interesting feature article entitled “What’$ That College Degree Really Worth?” (Their spelling.) It summarizes a new study from Georgetown University’s Center on Education and the Workforce that, for the first time, clearly shows the earning potential of certain majors versus others.

On the other hand, Peter Thiel argues that college is completely pointless if you’re interested in starting a new venture, and he’s put money into the game. Thiel (at right) is the PayPal co-founder and venture capitalist who’s giving 24 college kids $100,000 each to drop out of school and start their own businesses. Bloggers and commentators immediately criticized him, not only because he himself earned degrees at Stanford, but because his selection criteria of the best-and-the-brightest is essentially cherry-picking from those students talented enough to have gotten into the top schools at all.

Finally, professor Bill Linn of George Perkins Marsh Institute at Clark University makes this useful observation about the study:

This study says nothing about the personal and political values of less remunerative majors, quality of life, or vast differences of individual economic and social circumstances. Use this information to help you think about, not make, your choices about a major.

Sage advice, perhaps, for those of us who have given up a more lucrative (salary-wise) career to enter the field of journalism and communications.

(Potential headline optimized for SEO: “Salaries Highest for Computer Science and Engineering Graduates” or “Computer Science, Engineering Top List of High-Salary College Degrees”)