Educational Attainment and Economic Growth

Senate Research Staff
November 1997

 

In order for Oklahoma to maximize its economic potential in ensuing years, it must focus on educating its work force and fostering a culture that values completion of college, continuing education, and training throughout each person's life and career.

The relentless speed of technological development, deregulation of long-standing monopolistic industries, and a global playing field will determine the future of national and local economies. Each community's ability to compete successfully in this environment will increasingly depend on human capital factors such as educational attainment of work force, according to Mark Zandi, Chief Economist for Regional Financial Associates.

Craig Knutson, Chief Economist for Southwestern Bell, reiterated this message at a recent meeting of the Citizens' Task Force on Taxation. In the emerging economy, industries capable of generating the most capital will be those that depend on intellectual capacity to add value to raw materials. Mr. Knutson stated that we are shifting from a 'brawn'-based economy of raw materials and labor to a 'brain'-based economy fueled by a highly educated work force.

This presentation continues as a series of charts and explanatory bullets.



Educational Attainment and Economic Growth
Table Of Contents

Education and Income:  The National Scene

  1. Percent of US Families in Income Ranges, by Educational Attainment
  2. Median and Mean Family Incomes, by Educational Attainment
  3. Percent of Individuals in Income Ranges, by Educational Attainment
  4. Individual Median Incomes, by Educational Attainment
  5. Per Capita Personal Income and Percent of College Graduates

Educational Attainment:  The Regional Scene

  1. Percent of Total Population 25 Years or Older That Earned a High School Diploma
    (Details from main chart)
    1. Proportion of Population That Earned a High School Diploma or More, U.S. and OK
    2. Change in Proportion of Population That Earned a High School Diploma or More, 1990 to 1996, U.S. and OK


  2. Percent of Total Population 25 Years or Older That Earned a Bachelor's Degree
    (Details from main chart)
    1. Proportion of Population That Earned a Bachelor's Degree or More, U.S. and OK
    2. Change in Proportion of Population That Earned a Bachelor's Degree or More, 1990 to 1996, U.S. and OK

Salaries For College Graduates

  1. 1993 Average Starting Salaries for College Graduates in Private Industry, by Selected Positions

Science & Technology Degrees

  1. Change in Raw Number of Science & Technology Bachelor's Degrees, 1990 to 1994
  2. Mix of Bachelor's Degrees, 1990 through 1994
  3. Engineering Bachelor's Degrees as a Percent of Total Bachelor's Degrees Conferred

Science & Technology Degrees

  1. Projected Growth in Employment, by Level of Education and Training, 1994-2005

Conclusions