Research On The Industry Differences Between The Income And Returns Of Human Capital In China

Human capital is also called "non-material capital" and refers to the accumulation of knowledge and skills that are formed through investment in education or medical care.Since individuals differ greatly in their education or age,their human capital also differs.There are differences in the level of human capital in various industries,and it leads to differences in the income of employees in various industries.Due to differences in the nature of the industry,the same human capital gains in different industries are not the same,that is,the return rate of human capital varies from industry to industry.Therefore,the accurate measurement of the return rate of human capital in different industries can help to better understand the characteristics of the industry,so as to take measures to increase the return rate of human capital,and ultimately promote the income of employees and industry development.Firstly,this paper sorts out the income gap theory,the theory of human capital return rate and its calculation methods,and summarizes the research results of domestic and foreign scholars in human capital and human capital return rate.Then,after understanding and comparing different measurement methods,the improved Mincer model and panel model were selected to measure the factors affecting the income gap and the return rates of human capital in different industries.The relevant conclusions were drawn and related policies were proposed.Suggest.Through modelling and analysis of the factors affecting the industry's income gap,we know that human capital is an important factor affecting the industry's income gap.Through the analysis of the rate of return on human capital in the three major industries,the following conclusions are drawn:The average years of education for the three major industries are ranked as follows:primary industry<second industry<tertiary industry,and the order of educational returns is the same as:primary industry<Second industry<tertiary industry;The average age of the three major industries is:Second industry<tertiary industry<First industry,and the average age return rate is:secondary industry>tertiary industry>primary industry;The ranking of industrial human capital is:tertiary industry>secondary industry>primary industry.The levels of horizontal returns of human capital in the three industries are:the lowest level of human capital return in the primary industry,and the horizontal return of human capital in the secondary and tertiary industries.The rate is about the same.Through the analysis of the returns on human capital in different business,the following conclusions are drawn:Most of the returns on education in selected business are significantly positive,which indicates that increasing investment in education will bring positive benefits to people.The education,culture,and health business,as business in the tertiary industry,have the highest educational returns.Agriculture,Forestry,Animal Husbandry and Fishery,as the representatives of the primary industry,have the lowest rate of return on education;the returns on work experience for various business are positive and negative,of which the return on work experience in the scientific research business is negative,and the return on work experience in other business is Positive;labor productivity rates of all business are significantly positive,but the labor productivity rate of return is low,are less than 5%;the high rate of return of highly educated individuals in various industries are positive.The business scale returns are positive and negative,which shows that for some business,the expansion of the business scale will increase income,while some industries do not.