Education and Labor Market Outcomes in Urban West Africa.

Education in Sub-Saharan Africa is often seen as the main policy instrument in the fight against poverty. In practice, however, although education is an intrinsic component of development and well-being, its economic value is not clear, as urban unemployment in Sub-Saharan Africa is rising, especially among educated workers. The mismatch between (increasing) investment in schooling on the one hand and actual labor market opportunities on the other represents a major challenge for policy makers. For years, the existence of significant rents in the formal sector (especially in the dominant public sector) were so high that it made sense for individuals to ?queue? and to undervalue returns in the informal sector. Today, education no longer seems to guard against poverty and social exclusion. It is therefore critical to reappraise the external efficiency of investment in schooling in these countries.