Chapter 6 Human CapitalIf you think education's expensive,try ignorance!-DerekBok
Chapter 6 Human Capital If you think education’s expensive, try ignorance! —Derek Bok
EducationalAttainmentbySelectedCharacteristic:2003(Persons25andolder）Percentofpopulation-highest levelHighSomeNota highBachelor'sAdvancedPopulationschoolschoolcollege, butAssoci-ate'sCharacteristic(1.000)graduategraduatedegreedegreedegreeno degree9.3185.18315.432.017.28.217.9Total personsAge7.539.24312.929.019.48.622.525to34yearsold12.031.517.49.720.29.244.07435 to44 years old9.540,23411.030.918.118.811.645to54yearsold33.57.715.511527,39914.817.055to64yearsold25.137.213.75.011.37.818,11165to74 yearsold16,12332.535.112.84.29.85.675yearsoldoroverSex:17.17.2Male88.59715.930.918.510.417.29.117.58.2Female96,58615.033.1Race:14.932.217.08.318.29.5White153,18835.27.55.1Black20.019.912.220,5277.425.1Other11,46915.023.814.514.3Hispanic onigin5.28.33.121,18943.027.413.0Hispanic163.99411.932.617.78.619.210.1Non-HispanicCivilian laborforce status:9.4117,5399.930.018.321.211.3Employed18.835.919.18.013.34.9Unemployed6,57635.614.65.860.39026.112.05.7NotinthelaborforceSource:US.Census Burean, Current Population Report P20-550; and data published on the Intermet.See Intemet sitehttp://www.census.gov/population/www/socdemo/educ-attnhtml
Educational Attainment by Selected Characteristic:2003(Persons 25 and older)
MeanEarningsbyHighestDegreeEarned:2002Level ofhighestdegreeHighNot ahighSomeschoolTotalschoolAsso-Bache-Profes-graduatecollege,nodegreelor'sMaster'sCharacteristicgraduateonlyciate'ssionalDoctoratepersonsAll persons18,82627,28029.72534,17751,19460,445112,84589,73436.308Age:75,24725to34yearsold32,52719,23526,27828.87930,66242.62348.59862,19035to44yearsold41.96322.32430,25937,53337.44058,26763.758123,81188,81845,39221,23131,25140,22539,16767,09645to54yearsold60,680126,230112,53855to64yearsold42,38124,76130,89337,45034,84855.05762,640132,37281,16618,94927,51936,61129.80934,33151,61261,151114,98191,77165yearsoldandoverSex:Male44,31022.09132.67342,39263,50373.62999.60736.869138.82713.45922,29237,90947,36861,583Female27,27121,14127,34166.42619,26428,14530,57034,87652,47960.787115,52392.125White37,376Male45,79322,53933,92038,09543,49465,43974,426140,965103,78727,51213,35421,38822,45227,48037,90347,20960,94464,106FemaleBlack16,51622,82326,71130,39142.28551,97496,36869,78028,179Male31.79019,29425,58231,85836.02847.01860,647(B)(B)Female25,13113.74820,20922,45526,94038,74147,765(B)(B)Hispanic25.82418,98124,16326,45931,71040,94958.81481,186(B)Male29.08421,61127,99231,54537,36546,11559,90190,767(B)35,35757,447(B)Female21,00813.69418,81020,70725,888(B)Source:U.S.Census Bureau,Current PopulationReport P20-550 and data published on the Internet.See Intemet site<http://www.census.gov/population/www/socdemo/educ-attnhtml>
Mean Earnings by Highest Degree Earned:2002
Alternative Earnings StreamsEarningsEarningsStreamB(dollars)GrossBenefitsEarningsStreamAAForgoneEarnings01822AgeofTuition,WorkerBooksBCostOutlays(dollars)
Alternative Earnings Streams
Wage-Schooling LocusDollars30.00025.00023.00020.00011---11112131814Years ofSchooling
Wage-Schooling Locus