YEARS TO EARN $1 MILLION BY EDUCATION LEVEL...income to earn a million dollars with less than a high...
Transcript of YEARS TO EARN $1 MILLION BY EDUCATION LEVEL...income to earn a million dollars with less than a high...
$HOW LONG DOES IT TAKETO EARN A MILLION? $
YEARS TO EARN $1 MILLION BY EDUCATION LEVEL
Sources: Current Population Survey, U.S. Bureau of Labor Statistics, https://www.bls.gov/emp/images/ep_chart_001.png; Atlanta Fed calculations
Current Population Survey, (U.S. Bureau of Labor Statistics, https://www.bls.gov/emp/images/ep_chart_001.png)
$
32.4years percent
26at 2019 annual median income to earn a million dollars with less than a high school diploma
5.4percent 2019 unemployment rate for those in the labor force with less than a high school diploma
592dollars 2019 median weekly earnings for workers with less than a high school diploma
2018 poverty rate for individuals 25 and older with less than a high school diploma
EDUCATION PAYS $ $
EARNINGS AND UNEMPLOYMENT RATES BY EDUCATIONAL ATTAINMENT
WHAT IS HUMAN CAPITAL?The skills, knowledge, and training people possess, measuredby their economic value.
HumanWHY DEVELOP
CapitalWhat to Expect w i th Less
Than a H igh Schoo l D ip loma
?
Jennifer Ma, Matea Pender, and Meredith Welch, Education Pays 2019: The Benefits of Higher Education for Individuals and Society, https://research.collegeboard.org/pdf/education-pays-2019-full-report.pdf; Current Population Survey, (U.S. Bureau of Labor Statistics, https://www.bls.gov/emp/images/ep_chart_001.png); and Atlanta Fed calculations
UNEMPLOYMENT RATE IN 2019 (%)
ALL WORKERS: 3.0%
1.1
5.4
3.7
3.3
2.7
2.2
2.0
1.6
MEDIAN WEEKLY EARNINGS IN 2019 ($)
ALL WORKERS: $969
1,883
592
746
833
887
1,248
1,497
1,861
DOCTORALDEGREE
PROFESSIONALDEGREE
MASTER’SDEGREE
BACHELOR’SDEGREE
ASSOCIATE’SDEGREE
SOME COLLEGE,NO DEGREE
HIGH SCHOOLDIPLOMA
LESS THAN AHIGH SCHOOL
DIPLOMA
25.8High school diploma
15.4Bachelor's degree
12.8Master's degree
10.3Professional degree21.7
Associate's degree
23Some college,
no degree
10.2Doctoral degree
32.4Less than a high school
diploma
(For example, MD, JD)
BACK TO SCHOOL
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