Accumulated data on the record of more than 100,000 persons who completed Manpower Development and Training Act institutional training during 1965 and 1966 and who were reported as employed following their training were used in this report. The study examined the effectiveness of the training program in upgrading its graduates and, in so doing, enhancing their earning capacities. The results of study reaffirm the finding of an earlier study involving only 12,000 trainees, which showed a general upward shift in overall hourly earnings following training as compared with pretraining earnings levels, but with differing impact upon various component groups. Some of the findings were: (1) Overall, median earnings for employed graduates were $1.73 per hour after training compared with $1.44 before training -- an increase of 20 percent, (2) Special tabulations made for graduate trainees who were family heads showed a greater advance in earnings levels than for the trainee group as a whole, (3) Non-white family heads also had greater earnings gains, compared with the group as a whole, and (4) Over one of every four trainees moved laterally within the same earnings level, while one of every six retrogressed to a lower earnings level -- many of these, however, represented displaced workers who of necessity had to learn new skills. Twelve tables are included. (ET)