| Abstract: | Data gathered from a recent national sample of workers on educational requirements and attainments are used to examine the extent and economic effects of overeducation. Nearly 40 percent of the U.S. work force-and about 50 percent of black males-have more education than their jobs require. But we also find that “surplus” education does have economic value. The individual return to an additional year of surplus education was positive and significant for all major demographic groups. The estimated return is, however, only about half the size of the return to an additional year of required education. |
