This research memo reports on the supply and demand of public school teachers in 1974 as reflected in statistical information collected by National Education Association Research. Data were collected from institutions which prepare persons for entry into teaching and from state departments of education. analysis of the data supports the following conclusions: (a) the supply of graduates completing preparation to enter teaching in 1974 (296,640) is smaller by 5.3 percent than the number reported for 1973; (b) the number of beginning teachers needed to raise the quality of public school programs and staffing in fall 1974 to minimum levels (689,950) is 466,500 more than what is available from the 1974 graduating class of prospective teachers; (c) the number of prospective teachers from the 1974 graduating class seeking teaching positions (223,450) exceeds by 115,050 the number of teaching positions available (108,400); (d) employment in teaching positions in the fall following graduation is reported as 49.8 percent for 1973 graduates prepared to enter teaching; (e) teaching areas in which the supply is least adequate are mathematics, natural and physical sciences, distributive education, industrial arts, and special education; (f) areas in which the supply is most adequate are social studies, physical and health education, art, and foreign languages. (Author/JA)