Employment is Signaling Signaling

Unemployment is low among college grads and yet over 50% of college grads take jobs that do not require a college degree.  It is is not surprising that unemployment is low among college grads.  They tend to be more capable than people who did not graduate from college but sine they are not using the knowledge that they gained in college it is unlikely that college made them better employees but they were more capable and that allowed them to graduate for college.

I say that is evidence that college is more signaling than education.