The higher the professional qualification, the greater the incentive for firms to invest in stable and lasting employment and the greater the likelihood of workers finding another job quickly if the present one is unsatisfactory or threatened by adverse events. Higher levels of education bring gains in productivity.
The relationship can be gauged roughly from the link between educational qualification and earnings, that is from the personal return on education. In the majority of OECD countries, people with a qualification equivalent to our specialist university degree earn at least 50 per cent more than workers with a secondary school diploma.