Efficiency of college education in the labor market of the united states

The paper discusses the worthiness of the resources allocated for college education from the point of view of their value in the labor market. We use Data Envelopment Analysis (DEA) to weigh the share of GDP spent on a college education and weighted time of labor force college study against productivity, employment rate, and labor force participation. We received that in the U.S. labor market the efficiency of a college education had no statistically significant tendency to increase or decrease over the period of 1980-2010 but was closely related to the business cycles with a lag of one year.