Johnson recognised this in a previous speech when he said "we must remember that education is about more than just wage returns".
Consequently, they represent poor value for money, in a marketplace where students have been sold their debt on the basis of its future wage returns.
And recent studies of wage data of college graduates in Virginia, Tennessee and a few other states show that the wage returns of technical two-year degrees are greater than many bachelor's degrees in the first year after college.
The fact that all the main parties are now showing interest in doing this is very encouraging - but there is a long way to go before the minimum wage returns to its earlier levels".
White-Nonwhite Differences in Wage Returns to Tenure and Prior Workplace Experience". Southern Economic Journal 73.2 (October, 2006): 2006305.
Statistically significant positive wage returns are found, on the other hand, for low-skilled workers.
Estimated wage returns to this surplus schooling average 4.3%, or about half of the returns to required schooling.
White-Nonwhite Differences in Wage Returns to Tenure and Prior Workplace Experience". Southern Economic Journal 73, no. 2 (October 2006): 285-305.
The analysis here examined the effects of matching on the wage returns to foreign experience and education.
Ashworth, J, Hotz, VJ, Maurel, A, and Ransom, T. "Changes Across Cohorts in Wage Returns to Schooling and Early Work Experiences". (May 27 , 2018.
