In the manufacturing sector, the relatively strong effect of a supply shock is particularly evident in automobiles, while in the nonmanufacturing sector the effect of a demand shock is estimated to be significantly large in services for individuals, and in accommodations and eating and drinking services in particular.
Because high school graduates have higher earnings, pay more taxes, and are less likely to need to use public health programs, such investments can pay off even from the narrow perspective of state budgets; of course, the returns to the overall economy and to the individuals themselves are much greater.