Higher education not only contributes to the development of the human resources and intellectual betterment of the nation but is also a major economic enterprise. This research brief reviews and highlights data on the size and growth of higher education and illustrates how higher education institutions are preparing the future labor force. It examines higher education as a major employer; its training of professional talent in terms of associate degrees, certificates and awards, bachelor's degrees, first professional degrees, and doctoral degrees; the return on investment in college in terms of earnings and unemployment; the role of higher education in retooling the workforce; and higher education as a producer of technological and scientific knowledge. Findings include: (1) from 1980 to 1990, overall enrollment in higher education increased 15 percent, with higher increases for enrollment of students age 25 and older; (2) college graduates experience a competitive advantage in the labor market, with higher earnings and less unemployment; (3) higher education employed 2.5 million people in 1989; and (4) the number of doctoral degrees awarded has been increasing annually, but most of the gains have been due to increases in non-U.S. citizens receiving doctorates. The research brief explores implications of these trends. Contains 3 data resources and 12 references. (JDD)