Education and opportunity in Spain and the USA: evidence from youth labour market entry Online publication date: Thu, 03-Oct-2024
by Jennifer L. Steele
International Journal of Education Economics and Development (IJEED), Vol. 15, No. 4, 2024
Abstract: Using large random samples of young adults ages 24 to 30 in Spain and the USA, I examine socioeconomic mobility in each country and how vocational education options may enhance or detract from such mobility. In Spain, the socioeconomic status of young adults is less dependent on that of their parents than in the USA, but educational attainment is strongly related to family background in both countries. What differ are educational returns. In Spain, educational attainment strongly predicts job satisfaction, but in the USA, it predicts employment and earnings. Yet, if the distribution of average adult skills by education level in the USA matched that of Spain, inequality by education level in the USA would be roughly halved, all else remaining equal. Regarding the role of vocational education, young adults in Spain with non-tertiary vocational credentials show an employment advantage that does not translate to higher earnings.
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