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Education Level and Unemployment Premium Gains for Black Men: Returns to Education Model

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Abstract:

Since the celebrated works of Carter G. Woodson (1933), economic literature is replete with positions that in the absence of discrimination, black men will improve their labor market chances by increasing the quality and levels of college education. This paper presents a return to education investment model that examines whether black men who pursue additional academic levels beyond high school, reduces their unemployment risks and earnings inequality relative to their white counterpart. Using Current Population Survey (CPS) data from 1980 to 2006, we produce a log-linear model for both unemployment and earnings to evaluate each academically attained (as opposed to professionally) college premium and education level for black men from high-school diplomas to doctoral degrees. This model predicts that black men reduce their intra-racial general unemployment risk as education levels increase, and with the exception of master’s degree attainers, the relative two-to-one unemployment rate ratio remains for high-school, bachelors, associates and doctoral graduates. As would be expected, earnings increased as levels of education rises, but relative earnings and returns are no different for black men no matter their level of education. At all levels of attained academic levels, black men earn roughly eighty cents for each dollar earned by white men, the same as if they never pursued any college education. Further findings show that within-race returns to education exceed internal rates of return, so it makes sense to invest in college education. However, cross-racial returns to education of black men are significantly lower than for their white counterpart, for all attained education levels.

Title of Paper: Education Level and Unemployment Premium Gains for Black Men:
Returns to Education Model

Author: Nathaniel Johnson, Ph. D.
2025 S. Magnolia Drive
Tallahassee, Florida 32301

Ph: 850-671-2558
Cell: 305-496-5087

Institution: Florida A & M University,
Dept. of Economics
Asst. Professor
Tallahassee, Florida 32307
Ph: 850-599-3138

E-mail: nathaniel.johnson@famu.edu Alternative: natjohnson011@yahoo.com
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Association:
Name: 33rd Annual National Council for Black Studies
URL:
http://www.ncbsonline.org


Citation:
URL: http://citation.allacademic.com/meta/p302284_index.html
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MLA Citation:

Johnson, Nathaniel. "Education Level and Unemployment Premium Gains for Black Men: Returns to Education Model" Paper presented at the annual meeting of the 33rd Annual National Council for Black Studies, Renaissance Atlanta Hotel Downtown, Atlanta, GA, Mar 19, 2009 <Not Available>. 2014-11-30 <http://citation.allacademic.com/meta/p302284_index.html>

APA Citation:

Johnson, N. , 2009-03-19 "Education Level and Unemployment Premium Gains for Black Men: Returns to Education Model" Paper presented at the annual meeting of the 33rd Annual National Council for Black Studies, Renaissance Atlanta Hotel Downtown, Atlanta, GA <Not Available>. 2014-11-30 from http://citation.allacademic.com/meta/p302284_index.html

Publication Type: Individual Presentation
Review Method: Peer Reviewed
Abstract: Since the celebrated works of Carter G. Woodson (1933), economic literature is replete with positions that in the absence of discrimination, black men will improve their labor market chances by increasing the quality and levels of college education. This paper presents a return to education investment model that examines whether black men who pursue additional academic levels beyond high school, reduces their unemployment risks and earnings inequality relative to their white counterpart. Using Current Population Survey (CPS) data from 1980 to 2006, we produce a log-linear model for both unemployment and earnings to evaluate each academically attained (as opposed to professionally) college premium and education level for black men from high-school diplomas to doctoral degrees. This model predicts that black men reduce their intra-racial general unemployment risk as education levels increase, and with the exception of master’s degree attainers, the relative two-to-one unemployment rate ratio remains for high-school, bachelors, associates and doctoral graduates. As would be expected, earnings increased as levels of education rises, but relative earnings and returns are no different for black men no matter their level of education. At all levels of attained academic levels, black men earn roughly eighty cents for each dollar earned by white men, the same as if they never pursued any college education. Further findings show that within-race returns to education exceed internal rates of return, so it makes sense to invest in college education. However, cross-racial returns to education of black men are significantly lower than for their white counterpart, for all attained education levels.

Title of Paper: Education Level and Unemployment Premium Gains for Black Men:
Returns to Education Model

Author: Nathaniel Johnson, Ph. D.
2025 S. Magnolia Drive
Tallahassee, Florida 32301

Ph: 850-671-2558
Cell: 305-496-5087

Institution: Florida A & M University,
Dept. of Economics
Asst. Professor
Tallahassee, Florida 32307
Ph: 850-599-3138

E-mail: nathaniel.johnson@famu.edu Alternative: natjohnson011@yahoo.com


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What determines returns to education on a country level? Findings from 20 years of ISSP

From Unemployment to Work: Getting a Good Job by Educational Level during the Great Recession

Rates of return to investments in education at different educational levels in countries at different levels of development


 
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