The vocational education and training sector (VET) has a reputation for providing learners with a second chance. This report critically examines this idea, and finds that although VET provides opportunities for a second chance at education to many prospective students, the percentage who complete their studies and gain a qualification is modest.
Discussion about Australia's ageing population has focused on the importance of increasing labour force participation rates of older people. This paper examines the influence of education and training on the participation of older people in the labour market, and the pay-off of undertaking education and training as an older-person compared to earlier in life. On the whole, the results indicate the more qualifications the better, and education, lifelong learning and training are beneficial to maintaining and increasing employment rates. Qualifications acquired later in life have as good, and in some cases, better, pay-off to employment-to-population rates for older age groups, suggesting education is an effective strategy for older people seeking employment. The authors also suggest that increasing education levels will partially offset the impact of ageing on labour force participation.