Relationship between Labor Market and Education Essay

Relationship between Labor Market and Education - Essay ExampleFrom the in a higher place postpone it is evident that majority of full time workers are those with PhD, masters, bachelors degree and 2 year program. Of those interviewed those with masters degree and work full time amount to 66.2% while still 43% with high schooling diploma are working full time. In contrast to this we check the percentage of those that are unemployed from the defer tho 5.2% with PhD are unemployed compared to 11.7% of those who afford attained high school diploma. There it is evident that employment status will depend on education attainment. at present due to the fact that the T critical repute is less than the T calculated value we turn down the null hypothesis that the two means are equal therefore we conclude that mean percentage of those employed and have PhD is greater than the mean value of those employed and have attained high school diploma.In the labor market people who have higher educational attainment are paying more than others, for example PhD holders will be nonrecreational higher wage rates than bachelors degree holders, in this case we analyze education level and lowest wage willing to accept, the following table summarizes the resultsThe above table summarizes the percentage of those who are willing to paid 4.35 to 9 according to their education attainment it is evident that only 1% of PhD holders are willing to be paid 6 dollars while 7.8% of GED holders are willing to be paid 6 dollars. ... Variance 1 = (2.22)2Variance 2 = (2.47) 2N1 =2535N2 = 2535Tcal = 100.2828T critical at 95% level of political campaign = 1.9599Now due to the fact that the T critical value is less than the T calculated value we reject the null hypothesis that the two means are equal therefore we conclude that mean percentage of those employed and have PhD is greater than the mean value of those employed and have attained high school diploma.Education and lowest wage willing to acceptIn the labor market people who have higher educational attainment are paid more than others, for example PhD holders will be paid higher wage rates than bachelors degree holders, in this case we analyze education level and lowest wage willing to accept, the following table summarizes the resultsHigh school diplomaGED2-year programBachelors Degreemaster DegreePhD...4.350.100.20004.50.40.90.30.1004.750.20.90.1000wage55.7113.20.90.3164.47.8310174.3631.30.8082.76.33.12.41.80914.11.60.50.80The above table summarizes the percentage of those who are willing to paid 4.35 to 9 according to their education attainment it is evident that only 1% of PhD holders are willing to be paid 6 dollars while 7.8% of GED holders are willing to be paid 6 dollars. For this reason therefore it is evident that the cost of labor depends in education attainment. hypothesisMore high school diploma individuals are willing to be paid 5 dollars than Masters Degree holdersNull hypothesis H0 a = bAlternative h ypothesis Ha a bWhere a high school diploma individuals are willing to be paid 5 and b is masters individual willing to be paid 5 dollars therefore a = 5.7and b = 0.3Tcal = 2.34057T critical at 95% level of test =