Education Matters
According to the U.S. Census Bureau persons with progressively higher educations generally attain progressively higher earnings. Persons with professional or doctoral degrees from universities have the highest average earnings – $91,000 annually for those with doctoral degrees and almost $113,000 for those with professional degrees like medical and law degrees. Persons with college bachelor degrees only average almost $53,000 annually while those with no college degrees at all average less than $37,000 in all categories. High school dropouts average about $17,000 a year.
Educational attainment varies widely from state-to-state, as shown in the graph.  For persons 25 years of age and older, District of Columbia residents are most prone to have college degrees with nearly 50 percent college educated. Residents of West Virginia and Arkansas are least likely to be college-educated at only 16 and 19 percent, respectively. Among the five Rocky Mountain West states, Wyoming ranks 45th among states in the share of their population that is college educated at 20.8 percent. Montana and Idaho rank 32nd and 33rd at 25 percent each. And with over 36 percent of its population college educated Colorado trails only Massachusetts and the District of Columbia.
The importance of education to the economic success of not only individuals but communities and regions is creating increased competition among states in how they support and invest in public education. The chart below shows how states rank in per pupil funding of elementary and secondary public education – foundations of virtually every person’s education. Average funding nationwide in 2004-05 was $10,159 per pupil, with $4,774 (47%) of this support by state governments. Other support came from local sources and federal funding. Among Rocky Mountain West states, Wyoming ranks 5th among states in total funding and 5th in funding support from state-level sources. Colorado ranks 33rd in total funding and 41st among states in state support. Montana ranks 36th in total funding and 38th in state support. Idaho and Utah are 49th and 50th among states in total support and 35th and 43rd, respectively, in state support.
In the past some states have been able to function economically with only modest investments in the education of their people and of their workers. Those days will soon be distant memories.

Source: Larry Swanson, O’Connor Center for the Rocky Mountain West, U. of Montana