| The additional earnings that individuals received as a result of the improvement in education levels reflect the private returns of education,also known as personal education gains.Neoclassical economics holds that the labor market is a unified competitive market,the labor market is always clear,and the wage difference depends on the difference of labor productivity.In other words,a homogeneous labor force has the same labor productivity and must be able to obtain the same educational return.Especially,after the birth of human capital theory,countries around the world have used human capital investment as a way to alleviate the gap between the rich and the poor and promote economic development.However,after more than a decade of efforts,the labor market situation in the United States has not harvested the expected effect,and the chances of vulnerable workers in some positions obtaining stable social security or stabilizing income are very slim,or there is no guarantee at all.Income inequality is severe and discrimination has not been alleviated,and people are beginning to question the return on investment in education,especially in higher education.It can be seen that the labor market is not a completely competitive market.To some extent,it is divided into separate parts,and the income depends on the inequality in terms of working conditions in different market areas,that is,the labor market is divided.Scholars at home and abroad have done a lot of research on the theory of labor market segmentation.The most prestigious is the Dual labor market theory,which holds that the labor market can be divided into two separate segments: the primary labor market and the secondary labor market.The initial research on the theory of dual labor market mainly focuses on the description of the phenomenon of labor market structure.In the later period,some scholars began to elaborate on the theory of dual labor market.And gradually deepened into the empirical test.Compared with the mature market economy countries in the West,China's labor market has its special background,which reflects the characteristics of obvious institutional division.Early research on labor market differences in the rate of return on education mostly focused on the dual division of urban and rural areas.Recently,it has mainly explored multiple divisions,such as regional division,occupation division,ownership division and industry division.Only a few scholars empirically verified the current situation of labor market segmentation and estimated the rate of return on education from the dual labor market.Even if some scholars estimate the Mincer Earning of the dual labor market,their perspectives and conclusions are not consistent.In view of this,this paper attempts to study the characteristics of China's dual labor market.The main plan is to solve the following questions: What is the shape of China's labor market segmentation? If there is a labor market segmentation,will the rate of return to education be the same in different labor markets? If there is an inconsistency,what kind of market difference will be appeared? What kind of market differences will be shown in different levels of education and types of education? What is the effect of education on income? The discussion of these issues can promote us to better understand the investment return of education,provide important application value for the government and society to make educational decisions.It also has important theoretical value for enriching and developing related education,economics and management science.Therefore,this paper selects the individual samples of urban households in the “China Household Income Survey(2013)” database of the Institute of Economics of the Chinese Academy of Social Sciences using Stata for empirical analysis.Firstly,the paper empirically verifies the current situation of labor market segmentation in China,and examine the segmentation pattern of China's labor market.Secondly,according to the established measurement model,the educational return rate is estimated from the two dimensions of market type and education stage.The rate of return on education by market reflects the overall differences.And the rate of return of each stage of education that reflects structural differences.Finally,the estimation of the rate of return to education is tested and the probability of human capital impacting the labor market is calculated.This paper draws the following main conclusions:First,there is a division of the dual system in China's labor market.The primary labor market has high wage income,good welfare and high security,while the secondary labor market has the opposite characteristics.Second,the overall difference show that the average education rate of return in the primary labor market(9.5%)is significantly higher than the secondary labor market(7.59%).In China's labor market,education and wage income have a positive correlation in both markets,but the return on human capital in the primary market is higher than the secondary market.On the other hand,the logistic regression results of labor employment opportunities in this paper find that the education level is an important basis for determining what kind of labor market the employees enter.The higher the education level,the easier it is to enter the primary labor market.Third,the structural market differences in the rate of return to education show greater differences.In the primary labor market,the rate of return to education in junior middle school,ordinary high school,vocational school,college,undergraduate and postgraduate are 15.5%?7.1%?8.4%?7.4%?12.9% and 15.0%.Respectively,the secondary labor market are 4.6%?3.7%?9.0%?13.8%?16.6% and 13.5%.Firstly,the rate of return to education in junior high school is very different across markets.The rate of return to junior high school in the primary market is much higher than secondary labor market.Secondly,the rate of return to high schools is shown to be the lowest across labor markets.Thirdly,from the perspective of higher education,the rate of return to college education and undergraduate education are significantly higher in the secondary market,while the rate of return to college education is slightly higher in the primary market.Finally,according to the above research conclusions involving several key issues,some policy recommendations are as follows: Firstly,improve the institutional norms of the labor market and actively promote market-oriented reforms.Secondly,the use of public education policies to regulate income distribution inequality.Thirdly,we will vigorously develop vocational education and cultivate scientific and technological innovation talents to enhance the competitiveness of "made in China". |
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