This report is an update to "Credentials Matter. Report 1: A National Landscape of High School Student Credential Attainment Compared to Workforce Demand" (ED612414). It explores the credentials earned by both K-12 and postsecondary students. The report examines whether those credentials are, or are not, aligned with employers' demand. Key findings of the Phase 2 report include: (1) Just over half of all states (30) collect K-12 quantitative data on the attainment of credentials; (2) Most postsecondary systems are not currently collecting or aggregating credential attainment data. Only 4 states submitted postsecondary data on credential attainment: Arkansas, Colorado, Florida, and Utah; and (3) No state that submitted data is highly aligned in terms of supply for credentials earned by students and the demand for those credentials in the job market.