Here are a couple of charts showing the unemployment rate according to level of education for people aged 25 to 44. The first one is for Canada and the second is for Newfoundland and Labrador.
We also see that a postsecondary diploma or certificate reduces the unemployment rate by about 5% in NL compared to about 2% in the rest of Canada; and some postsecondary is better than nothing in NL, while in the rest of Canada you are better off with no PSE than doing some PSE and not graduating.
All of this indicates that postsecondary education (PSE) is much more valued by the NL labour market than by the Canadian one. Credit to the PC government for strongly investing in PSE and keeping tuition low. Hopefully they remember the value of this investment in Budget 2014.
Sources: Statistics Canada, CANSIM 282-0004