THE RELATIONSHIP BETWEEN EDUCATION LEVEL AND INCOME
Abstrak
This study examines the relationship between education level and family financial outcomes using secondary data from the U.S. Bureau of Labor Statistics (2024) and the Federal Reserve Survey of Consumer Finances (2022). The analysis compares income, wealth accumulation, and the wealth-to-income ratio across four distinct educational cohorts. The results show that higher educational attainment is strongly associated with greater income, wealth, and financial efficiency. Families with advanced degrees earn over three times the income of those without a high school diploma and accumulate nearly 18 times more median wealth. These findings underscore education as a primary driver of economic mobility and highlight the need for policies ensuring equitable access to higher education.
Iqtiboslar
Becker, G. S. (1993). Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education (3rd ed.). University of Chicago Press.
Bureau of Labor Statistics (BLS). (2024). Earnings and unemployment rates by educational attainment. U.S. Department of Labor. https://www.bls.gov/emp/tables/unemployment-earnings-education.htm
Federal Reserve Board. (2023). Changes in U.S. Family Finances from 2019 to 2022: Evidence from the Survey of Consumer Finances. Federal Reserve Bulletin. https://www.federalreserve.gov/econres/scfindex.htm
OECD. (2024). Education at a Glance 2024: OECD Indicators. OECD Publishing. https://doi.org/10.1787/c00cad36-en
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Wolla, S. A., & Sullivan, J. (2017). Education, income, and wealth. Page One Economics, Federal Reserve Bank of St. Louis.
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