A benefit-cost analysis of the Job Corps program compared groups randomly assigned to either enroll in the program or to constitute a control group that did not enroll. Youth who participated in the study were those found eligible for Job Corps nationwide between November 1994 and February 1996. Interviews with participants and the assignment of dollar values to costs and benefits were among the research methods used. Benefits and costs measured included the following: (1) benefits of increased output resulting from the additional productivity of Job Corps participants; (2) benefits from reduced use of other programs and services; (3) benefits from reduced crime committed by or against participants; and (4) program costs and costs of resources used by Job Corps. Benefits and costs were measured from the perspectives of society as a whole, participants, and the rest of society (non-participants in Job Corps). The study's findings indicate that Job Corps is a good investment. The benefits to society exceed the costs of the program by nearly $17,000 per participant, assuming that the observed earnings impacts do not decline rapidly as participants get older. The researchers say evidence from other studies suggests the impacts will persist without rapid decay. The study concluded that Job Corps is a valuable program whose benefits exceed costs over a wide spectrum of student groups and for several areas of society. (The report includes 28 tables and 11 figures.) (KC)