The question is whether the current trends in the creation of human capital will be reflected in a similar contribution to future growth. In order to answer this question, we must examine what level of education is expected to be relevant to the labor market in the coming years, in view of the demographic trends.
A study conducted by Dr. Eyal Argov of the Bank of Israel Research Department translated actual years of schooling into years of schooling in terms of earning capacity, and indicates that while the ultra-Orthodox have an average of 17 years of schooling, these are the equivalent of just 10 years of effective schooling in terms of earning capacity.