After Massachusetts, Colorado has the second best public school system in the nation, according to a study released Wednesday by WalletHub.

The study and its methods may be accessed here.

Data from the U.S. Bureau of Labor Statistics show that income grows and unemployment shrinks as education levels rise.

“With school resuming session, many parents will be seeking the best school districts to secure their children’s academic success. When comparing their options, however, parents should recognize that the amount of available public funding is by no means a determinant of a school system’s quality, as our findings demonstrate, though money is certainly helpful,” WalletHub said on its website.

Also, economies are improved in states that invest more in education.

The Economic Policy Institute reported that income is higher in states where the workforce is well educated and thus more productive, WalletHub said.

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“With better earnings, workers in turn can contribute more taxes to beef up state budgets over the long run,” the WalletHub website said.

WalletHub analyzed 13 metrics in the 50 states and the District of Columbia. Those included dropout rates, student-teacher ratio, math and reading test scores, SAT scores, bullying incidents, youth incarceration rates and more.