Don't major in recession studies
But are employment and earnings by degree the most important factors in choosing a college? Absolutely not. First of all, mushy as it sounds in an economics post, happiness matters. To the furthest extent possible, you should do what you want to do, not only in college, but also in life. Second, employment and earnings statistics are variable. Real estate was all the rage in 2003. But four years after the housing bust, it won't surprise you to learn that architecture majors now have highest jobless rate among recent college graduates at 14%, nearly three times higher than for Information Services Majors. Or poll business school grads from 2000 or 2008 how flooding into finance worked out. Stats are moving targets.
Does that mean you shouldn't major in architecture today? Once again: Absolutely not! If you want to design houses and commercial buildings, an architecture degree would be a nice thing to have. Who knows, maybe the economy will be at your back by the time you hit peak-earnings age. (Housing starts just hit an 18-month high, and in some states, there is arguably a shortage of homes.) College is an investment, and when you make an investment, you should consider all the data. But don't let the economy pick your major for you.