This report focuses specifically on differences over time in selected labor market outcomes of individuals associated with their educational attainment. Earnings

Workers with more education historically have had higher annual earnings on average than workers with less education. As also can be seen from the columns labeled "current dollars" in Table 1 , the importance of educational attainment to earnings has increased over the years. This disparate pattern has sparked still ongoing concern about the extent of wage inequality in U.S. society. The risk of displacement is lower and the likelihood of reemployment is higher for long-tenured workers with at least a bachelor's degree compared to other workers. Many of the estimated five million new jobs are in professional occupations.
The amount of education in which individuals invest greatly influences their labor market outcomes. For example, highly educated workers on average are better paid than other workers. Four-year college graduates also are less at risk of unemployment; if they should lose their jobs, these displaced workers are more likely than others to find new jobs. The importance of educational attainment to earnings levels has grown over time as well. Concern about the extent of wage inequality in U.S. society arose in part because of the comparatively large increases in real (inflation-adjusted) earnings of workers with at least a bachelor's degree.