The relative efficiency of various manpower programs as seen through cost-benefit analysis is assessed, and the contribution that cost-benefit analysis has made in evaluating manpower programs is discussed, taking into account a variety of methodologies presented in different studies. Vocational rehabilitation appears to yield the highest benefit-cost ratios, followed by programs involving on-the-job training, vocational education in vocational high schools, out-of-school institutional retraining programs, post-secondary vocational education, Job Corps, and drop-out prevention programs. Comparisons of these activities are hindered by economists' failure to agree on a common methodology for conducting cost-benefit research, the existence of unmeasured benefits and costs, the absence of good cost data, and insufficient economic commitment. Deficiencies in cost-benefit analysis appear to be minimized when the analysis is directed at the internal operation of programs. It is in this direction that cost-benefit analysis particularly needs to be developed. (Author/AG)