The Changing South

Page 7 III. Education and Income We are all aware, and you especially, of the importance of education in our society, of the relation it has to income and to economic development. Let me review with you some well known facts about the relationship between education and income. Data gathered by the Census Bureau bring out the direct relationship that exists between level of education and the earning power of individuals. College graduates at their peak earning age have an average income considerably higher than those people who have some college education but no degree. For example, the former earned in 1950 an average annual salary of $5,500 while the latter averaged $1,000 less — almost a fifth less. High school graduates who have had no college education were farther down the scale, averaging $3,700;and so it wen