Colleges spent $407 billion in 2013 on formal education programs, while employers spent $177 billion, according to anew report from the Georgetown University Center on Education and the Workforce. The report found that employers also spent $413 billion on informal, on-the-job training. That means the workforce side of the total $1.1 trillion in expenditures on training outpaced that of higher education. Reported by Inside Higher Ed.
However, the rate of increase for spending on formal training has been faster in higher education — an 82 percent increase since 1994 compared to a 26 percent increase by employers. Federally funded job training was the smallest piece of the pie, with $18 billion. College graduates receive the most formal training from employers, with 58 percent of the total expenditure by that sector compared to the 17 percent received by workers with a high school education or less.