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Skills and the Earnings of College Graduates. The Impact of Human Capital in the American Labor Market Series

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Title: Skills and the Earnings of College Graduates. The Impact of Human Capital in the American Labor Market Series
Language: English
Authors: Fogg, Neeta, Harrington, Paul, Khatiwada, Ishwar, Educational Testing Service (ETS), Center for Research on Human Capital and Education
Source: ETS Center for Research on Human Capital and Education. 2019.
Availability: ETS Center for Research on Human Capital and Education. Available from: Educational Testing Service. Rosedale Road Mailstop 13E, Princeton, NJ 08541. Tel: 609-921-9000; Fax: 609-734-5410; Web site: https://www.ets.org/research/report/opportunity/
Peer Reviewed: N
Page Count: 104
Publication Date: 2019
Document Type: Reports - Research
Education Level: Higher Education
Postsecondary Education
Descriptors: College Graduates, Labor Market, Outcomes of Education, Job Skills, Literacy, Numeracy, Occupations, Adults, Educational Attainment, Majors (Students), Employment Level, Gender Differences
Assessment and Survey Identifiers: Program for the International Assessment of Adult Competencies (PIAAC)
Abstract: In this paper, the second in the "Impact of Human Capital in the American Labor Market" series, the authors reveal that there are large groups of college graduates who lose out on the seemingly automatic earnings premium from their degree, and that their failure is related to a lack of skills. One of every five bachelor's degree holders among employed college graduates ages 21 to 65 lacks some important skills in literacy. For numeracy, the number is one in three. Furthermore, the authors determined that access to college labor market, or CLM, occupations is critical. Working in an occupation that utilizes the skills, knowledge, and abilities that are typically developed with a college education reaps large earnings premiums. But those who wind up mal-employed--working in jobs that do not require those types of skills--get no premium at all. This report amplifies a crucial message emanating from a wider series of reports by the ETS Center for Research on Human Capital and Education: the importance of human capital and the cost to a large number of individuals--and to society itself--when levels of it are lacking. Specifically, this report examines the relationship between Programme for the International Assessment of Adult Competencies (PIAAC), an assessment measuring achievement for countries across the world, measures of human capital traits and the earnings of 21- to 65-year-old employed college graduates in the United States. It begins with an examination of the basic demographic characteristics of employed college graduates, level of college degree completion, college major field of study, literacy and numeracy proficiencies, access to college level jobs, and intensity of employment (weekly hours of work). The next section contains a descriptive analysis of the mean earnings of college graduates by key characteristics including college degree and major, literacy and numeracy proficiencies, and access to employment in CLM occupations. Following the descriptive analysis, the report presents findings from human capital earnings functions designed to estimate the independent effect of human capital traits and other covariates on the earnings of employed college graduates in the United States. [This report was co-produced by Education Research and Development, Educational Testing Service. For the first report in this series, see ED593028.]
Abstractor: ERIC
Entry Date: 2019
Accession Number: ED595423
Database: ERIC
FullText Text:
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  Data: Skills and the Earnings of College Graduates. The Impact of Human Capital in the American Labor Market Series
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  Data: In this paper, the second in the "Impact of Human Capital in the American Labor Market" series, the authors reveal that there are large groups of college graduates who lose out on the seemingly automatic earnings premium from their degree, and that their failure is related to a lack of skills. One of every five bachelor's degree holders among employed college graduates ages 21 to 65 lacks some important skills in literacy. For numeracy, the number is one in three. Furthermore, the authors determined that access to college labor market, or CLM, occupations is critical. Working in an occupation that utilizes the skills, knowledge, and abilities that are typically developed with a college education reaps large earnings premiums. But those who wind up mal-employed--working in jobs that do not require those types of skills--get no premium at all. This report amplifies a crucial message emanating from a wider series of reports by the ETS Center for Research on Human Capital and Education: the importance of human capital and the cost to a large number of individuals--and to society itself--when levels of it are lacking. Specifically, this report examines the relationship between Programme for the International Assessment of Adult Competencies (PIAAC), an assessment measuring achievement for countries across the world, measures of human capital traits and the earnings of 21- to 65-year-old employed college graduates in the United States. It begins with an examination of the basic demographic characteristics of employed college graduates, level of college degree completion, college major field of study, literacy and numeracy proficiencies, access to college level jobs, and intensity of employment (weekly hours of work). The next section contains a descriptive analysis of the mean earnings of college graduates by key characteristics including college degree and major, literacy and numeracy proficiencies, and access to employment in CLM occupations. Following the descriptive analysis, the report presents findings from human capital earnings functions designed to estimate the independent effect of human capital traits and other covariates on the earnings of employed college graduates in the United States. [This report was co-produced by Education Research and Development, Educational Testing Service. For the first report in this series, see ED593028.]
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      – Text: English
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        PageCount: 104
    Subjects:
      – SubjectFull: College Graduates
        Type: general
      – SubjectFull: Labor Market
        Type: general
      – SubjectFull: Outcomes of Education
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      – SubjectFull: Job Skills
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      – SubjectFull: Literacy
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      – SubjectFull: Numeracy
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      – SubjectFull: Employment Level
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      – SubjectFull: Gender Differences
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      – SubjectFull: Program for the International Assessment of Adult Competencies (PIAAC)
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