At the time of the First Followup Survey of the members of the High School Class of 1972, approximately 18 months after graduation, sixty-five percent were unemployed, and eight percent were out of work. Forty-two percent were taking academic courses in a college or university. Graduates of the vocational high school curriculum were employed at higher rates than their classmates and were least likely to be taking academic courses. Twenty-nine percent of the females were homemakers, and most of those were married or formerly married. Earnings during the study period were similar for blacks and whites, but much greater for males than females. A very detailed discussion of the educational and economic status of class members including the relationship of these factors to base-year variables and to class members' plans and aspirations is presented. (BW)