publication . Preprint . Part of book or chapter of book . Report . 1989

Job Training: Costs, Returns, and Wage Profiles

Jacob Mincer;
Open Access
  • Published: 01 Dec 1989
Abstract
Using information on time costs of training and gains in wages attributable to training I computed rates of return on training investments. The range of estimates based on several data sets generally exceeds the magnitudes of rates of return usually observed for schooling investments. It is not clear, however, that the difference represents underinvestment in job training. Two methods were used to estimate total annual costs of job training in the U.S. economy, for 1958, 1976, and 1987. The "direct' calculation uses information on time spent in training and on wages. For 1976 so calculated costs amounted to 11.2% of Total Employee Compensation and a half of cost...
Subjects
free text keywords: Job training, Human capital, Rate of return, School education, Economics, Compensation of employees, Labor mobility, Wage, media_common.quotation_subject, media_common, Labour economics, Wage growth
Related Organizations
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publication . Preprint . Part of book or chapter of book . Report . 1989

Job Training: Costs, Returns, and Wage Profiles

Jacob Mincer;