CUNY is a major contributor to the economic health of New York City and State. The University's total economic impact within New York State is nearly $13 billion annually, more than ten times the size of CUNY's budget. CUNY graduates and employees generate $717 million in State and City tax revenues yearly, returning the $716.1 million in State and City aid The University received for 1996-97. Some 425,000 of CUNY's 1970-1995 graduates still live and pay taxes in New York, along with hundreds of thousands of previous graduates, 205,000 current students and 150,000 adult and continuing education students. Ten years after graduation, 80 percent of CUNY alumni are still in New York. More than 90 percent of CUNY employees live in New York. As a result of expenditures by the University, students, alumni, and staff, an extra 321,210 jobs are created each year in New York State. The average bachelor's degree recipient earns over $690,000 more than a high school graduate during a 40-year career. Each year, New York State and New York City derive approximately $646 million more in taxes from CUNY's 1970-1995 graduates than if these taxpayers had not received a college education. By the year 2000, the majority of jobs will require a college degree, according to the New York State Department of Labor, and the occupations that require the highest levels of education will grow the fastest. CUNY is a leader in educating groups traditionally under-represented in higher education who will make up a growing portion of New York's future workforce.