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| Tekijä: | Vignoles, A. Coulon, A. De Marcenaro-Gutierrez, O. |
| Otsikko: | The value of basic skills in the British labour market |
| Lehti: | Oxford Economic Papers
2011 : JAN, VOL 63:1, p. 27-48 |
| Asiasana: | United Kingdom labour markets human capital labour education skills pay |
| Vapaa asiasana: | wages literacy numeracy |
| Kieli: | eng |
| Tiivistelmä: | We assess the labour market value of literacy and numeracy in the UK, concentrating on the effect of basic skills on wages. We utilize literacy and numeracy tests undertaken by all members of the UK 1970 British Cohort Study, and on earlier test score information accumulated during childhood. The data used are versatile and allow us to account for potential ability bias. It's found that literacy and numeracy skills are positively related to earnings, over and above any general effect on earnings from a person more cognitively able and absolutely over and above the effect of education on earnings. We also evaluate whether the wage return to skills has increased over time by the help of a cross cohort analysis. Literacy and numeracy skills have retained their high value in the UK labour market over 19952004, despite many policy attempts to increase the supply of skills during this period. |
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