Higher ed and the economy

Chart: Share of all jobs that will require postsecondary education in 2018
Chart: 70 years of change in postsecondary education levels and income
Chart: Global comparisons: Share with a postsecondary degree
Chart: Lost opportunities: What happens to Minnesota 9th graders
Chart: U.S. college enrollment and completion rates increase with family income
Chart: Expected growth in Minnesota's low-income student population
Quote by Tom Gillaspy, Minnesota state demographer

Minnesota's future economic growth will require sustaining our state's historic focus on education. Minnesota has had a competititve advantage, based on our human capital. But it is not clear how long that will hold true. Here are some of the ways education matters:

Postsecondary education needs piechartHigher education drives Minnesota's economic success

Access to and completion of a higher education degree provides Minnesota with the individuals who can propel our economy forward. In this global economy, Minnesota's ability to retain and attract employers will largely depend on increased productivity, which is driven in large part by education and training.

Higher education works to open opportunity for all Minnesota students

More than one out of four students come from families with incomes below $50,000 — at MPCC member institutions as well as MnSCU and the U of M."First-generation" college students, meaning that neither of their parents completed nor attended college themselves; make up one out of four students at Minnesota institutions.

We know that students from lower-income families and certain ethnic groups have lower likelihoods earning college degrees. There are a number of ways that colleges are working to ensure the doors to opportunity are open to all, including through targeted recruitment, retention efforts and partnerships with programs that offer additional support.

Higher education improves Minnesota graduates' quality of life

A post-secondary degree can make the difference in the lifelong earning potential and overall quality of life of the state's residents. The income gap between high school graduates and college graduates has increased significantly over time. The non-monetary rewards of a college education include better health and greater opportunities for the next generation.

Chart showing wage premium by education

To hear what Minnesota experts are saying about school success and our economy, check out the LearnmoreMN blog. Monthly guest bloggers weigh in on topics ranging from early education to workforce issues.