Student or Learner
1. "Meanwhile, mid- and late-career workers with high earnings capacity have stayed in the labor market. It would be necessary to control for these supply changes to confirm that returns to experience have increased."
2. "From 1994 to 2002, real earnings declined. Overall, men have fared
better than women, with a widening of the wage differential between the two, especially in the late 1980s and early 1990s. The wage data suggest that returns to experience have been increasing. Workers 35 years of age and older have had the largest wage gains since the late 1980s, while young people (under 25 years) have in fact, experienced deteriorating earnings. However, there is a selection issue involved; more young people
are delaying entry to the labor market to extend schooling, while declining numbers of older workers remain attached to the labor force."
my question is, what is the meaning of "returns to experience".
please give me a hand :) thank you