The Post-Education Employment Tracking System (PEETS), operated by the Chancellor's Office of the California Community Colleges (CCC) in cooperation with the State of California's Employment Development Department (EDD), is an automated system for tracking the post-college employment rates and earnings of community college program completers and leavers over an extended period of time. The system uses social security numbers to match EDD quarterly wage data with student records. To determine the feasibility, cost, and educational value of using PEETS, a study was conducted in 1992-93 by the Chancellor's Office, EDD, Santa Barbara City College, and Grossmont College. The study found that PEETS can be used to answer questions regarding employment patterns of former students, employment rates by major and type of degree, comparative earnings of associate degree graduates and those who did not complete the degree, earnings and employment rates in different population groups, geographic mobility of working graduates, type of industries employing graduates, relationship of training and employment. It concluded that PEETS is an inexpensive method for tracking the success of former students, and can be used to meet accreditation requirements and respond to consumer inquiries. This report describes PEETS; presents the results of the 1992-93 study of the technical feasibility, cost, and educational value of using PEETS to trace employment rates and earnings of community college vocational program graduates and dropouts over a 4-year period; identifies potential applications of PEETS-generated information for assessing and strengthening occupational programs; lists the major advantages and disadvantages of PEETS as a method for assessment of labor market outcomes; and advances recommendations for enhancing the value of PEETS. (PAA)