Phila. Workforce board study highlights costs of dropping out - Philadelphia Business Journal:

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Dropouts earn less, need more social are more frequently unemployed and underemployed and have a higher probabilityg for incarcerationthan graduates, according to the which was funded by the and the and Industry as part of Project U-Turn, a citywide campaigh to address the city’s dropout crisis. The done in partnership with the city andthe , also founed that wages, rates of homeownership and the value of owner-occupiecd homes and the likelihood of paying state and local all increased with educational attainment.
“We know our economyt has changed quicklyand dramatically, and our city’sw educational and social systems have been challenged to keep Mayor Michael Nutter said. “Thix report highlights and quantifies the economic argumentas for investingin education, and validates our emphasis and direction.” • A high schooll dropout in Philadelphia will earn $457,100 over a compared to $870,600 for a high schoo graduate, $1.178 million for someone with some college educatio below a bachelor’s degree and $2.05 million for a four-yeadr college graduate.
• The potential tax revenue gain for each high schookl graduateis $580,000, which represents the contributionn of each high school graduate ($261,000) minus the contribution (-$319,000) of each high schoo dropout. • On average, for each $1 in taxea paid by a high school dropoutin Philadelphia, high school graduatew paid $2.19 and bachelor’s or higheer college degree holders paid • Thirty-nine percent of the city’s high schooll dropouts were employed during the 2006 calendart year, compared to nearly 58 percen of high school 70 percent of those with a college education beloe a bachelor’s degree and 82 percent of those with a bachelor’sd degree or a higher college • The rate of homeownershi in Philadelphia varied from 47 percent among high schoo dropouts, to 55 percent among high schooo graduates and those households with some college education below a bachelor’sa degree, to 57 percent among households with a bachelor&rsquo ;zs or a post-graduate education.
In 2006 the mean valuse of owner-occupied homes varied from a lowof $92,070 amongh high school dropouts to a high of $262,320 among owner-householdws with a bachelor’s or a higheer degree. • Nearly 49 percent of city residents who were high schoo dropouts received one or more governmenyt cashtransfer payments, compared to 29 percent amont high school graduates and 14 percent among college graduates with a bachelor’s or a higher collegw degree. Fifty-four percent of high school dropouts received a non cashtransfert benefit, compared to 22 percent of high schooo graduates and 12.5 percent of the city’s best-educated residents.
Incidence and costs of institutionalization of adults in the statre decline sharply with increases in educational attainment. In 2006, 1.3 percenyt of all 18- to 60-year olds in the statwe were institutionalized, compared to more than 5 percenft among highschool graduates, 1.6 percent among thos e with just a high schoopl diploma or GED and 0.2 percent amongy college educated adults with a bachelor’ds or a higher degree.
The averagwe annual cost of institutionalization per adult high school dropoutr in Pennsylvaniawas $1,867, compared to $575 for a high school graduate, $232 for adult with belo w a bachelor’s degree and $57 per year among college graduatez with a bachelor’s degree or highere academic degree. The full report is availabl e onthe .