Cognitive skills—that is, math and reading skills that are measured by standardized tests—are generally understood to be of critical importance in the labor market. Most people find it intuitive and indeed unsurprising that cognitive skills, as measured by standardized tests, are important for students’ later-life outcomes. For example, earnings tend to be higher for those with higher levels of cognitive skills. What is less well understood—and is the focus of these economic facts—is that noncognitive skills are also integral to educational performance and labor-market outcomes.