Proposed ida grant in the amount of
Download 1.32 Mb.
|
Returns to education In terms of investment on education, The Gambia’s labor market signals higher returns and better employment opportunities for higher level of skills. While education has direct and indirect economic and social impacts, this section only focuses on the economic effects. As such the efficiency of the education sector is measured in terms of the value that education offers through earnings and employment opportunities. For example, the average estimated earnings increase from GMD2299 for the working age population with no formal education to GMD4581 for those with a post-secondary education level (Figure 4). A high share of wage employment appears to be in the services sector and the poverty rate among wage employees is generally low. In The Gambia, more educated individuals tend to work in the services sector since it offers better economic benefits and formal employment. Only 34 percent of the working age population with no education work in the service sector whereas 91 percent of the labor force working in the service sector has a post-secondary education. On average, 12 percent of working age population have wage paying jobs, and of those, the proportion of the working age population with a post-secondary education is high at 81 percent.
The estimates of the returns on an additional year of schooling broken down by gender and sector of activity are positive and indicate better return for women and high productive sectors. At the national level, an additional year of schooling yields a 6 percent return (figure 5.5). For the same amount of education, women have a higher rate of return (7 percent) than men (5 percent). This suggests that there are less educated women than men in the labor force. The rate of returns on education in the service sector is higher than in the other sectors suggesting that productivity in the services sector is higher.
Higher levels of education are also associated with higher rate of returns as the rate of returns on education increases with each successive level of education attained, confirming that education is a key determinant of livelihoods. At the national level, the rate of returns ranges from 15 percent for lower basic education to 87 percent for higher education. Higher education is the level that leads to remarkably high returns in all categories: 79 percent for male, 97 percent for female, 100 percent for those that work in the private sector and 101 percent in the services industry (Figure 5.6).
Directory: curated curated -> Concept stage curated -> Concept stage curated -> Republic of Côte d'Ivoire Urbanization Review curated -> Report No: aus11011 Central America curated -> Report No. 94474-pk fiscal Disaster Risk Assessment Options for Consideration curated -> Environmental and Social Management Framework for the Costa Rica Telecommunications Sector Modernization Project curated -> Environment Impact Assessment For Jiangxi Shangrao Sanqingshan Airport Beijing Guohuantiandi Environmental Technology Development Center. Ltd. Oct. 2012 Content curated -> Growth through Innovation An Industrial Strategy for Shanghai By Shahid Yusuf Kaoru Nabeshima April 22nd, 2009 curated -> Report No: 70178. People's Republic of China Download 1.32 Mb. Share with your friends:
|
