Texas Border Business
The overall education level of Americans is rising according to new data from the US Census Bureau, and Texas has seen some encouraging gains. While the state still has some catching up to do, the situation has improved notably over the past decade.
The most recent information indicates that, across the nation, about 89.9% of adults aged 25 or older have graduated from high school, with 36.8% attaining a bachelor’s degree or higher. In 2019, these percentages were 88.6% and 33.1%, respectively, compared to 86.9% and 30.1% in 2014. In other words, over the past decade, the United States has seen an increase of three percentage points in the proportion of the population finishing high school, while degree-holders grew by 6.7 percentage points.
Texas has been coming from behind, but the Lone Star State is making up ground. As of 2024, 86.7% of people in the state have at least a high school diploma, and 35.2% have a bachelor’s degree or higher. In 2019, the percentages were 84.6% and 30.8%, and in 2014 they were 82.2% and 27.8%. The improvement over the decade was, thus, 4.5 percentage points in the proportion of high school graduates and 7.4 percentage points for those with bachelor’s degrees. Much of this improvement stems from young professionals moving to the state in response to perceived economic opportunities.
On both a national and state level, females are more likely than males to finish high school and to obtain a degree; 38.3% of females 25+ have completed a bachelor’s or higher, compared to 35.4% of males. People in younger age ranges are more likely to have higher educational attainment, and there is significant variation across racial/ethnic groups.
Historically, unemployment rates and lifetime income have been related to educational attainment. The most recent data indicate that the unemployment rate for people 25 or older without a high school diploma is 5.2%, compared to 4.5% for those who have finished high school and 2.9% for people with a bachelor’s degree or higher. Median income also increases substantially with education level, from about $32,500 for those who have not finished high school to $40,700 with a high school diploma to $70,500 with a bachelor’s degree.
Clearly, there are many paths to financial success and rewarding work. For example, an associate’s degree or effective technical training can open the door to many in-demand occupations such as skilled trades and health care professions. Moreover, the magnitude of the changes AI will bring to the workforce remains unclear and should be considered (a topic for another day). However, for the foreseeable future, improving education levels across Texas and the nation can enhance personal financial options and potential economic growth. Stay safe!
________________________
Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com), which has served the needs of over 3,000 clients over the past four decades.
