Education And Income
Studies by the US Census Bureau and many other agencies have consistently shown that people with a higher level of education make more money than those with less education. For example, the US Census Bureau issued data in July of 2002 that shows the following:
Education and Annual Income
|Highest Education Level Achieved||Annual Income (1999)|
|High School Graduate||$30,400|
|Not High School Graduate||$23,400|
It has also been shown that this higher level of annual earnings translates into significant increases in overall lifetime earnings. The US Bureau of Labor Statistics data from 2001 show the following:
Education and Lifetime Income
|Highest Education Level Achieved||Lifetime Income|
|High School Graduate||$994,080|
|Not High School Graduate||$630,000|
Higher levels of education payoff in lifetime income in a big way. It is interesting to note that this relationship between education and earnings potential has been known since the 1970's, and has been consistently demonstrated by government surveys. In fact the difference in income level with education has grown significantly over the years. The Bureau of the Census has suggested that the gap in earnings between those with higher education and those with lower education will continue to grow in the future.
The US Bureau of Labor Statistics has also shown that the unemployment rate steadily drops with higher levels of education. Unemployment for non-high school graduates was 6.5% in 2000, 3.5% for high school graduates, and 2.3% for those with an associate degree.
Education makes a difference!
U.S. Bureau of Labor Statistics
U.S. Census Bureau