This document, a review of labor market effects of human capital, focuses on two related topics. Part I describes the following early findings of the research on effects of education and job training on the wage structure, labor turnover, and unemployment: decline of training with experience, positive and significant effects of training on length of completed tenure, less turnover over longer periods for workers who received training, positive effect of training on wage growth, positive effect of training on wage growth in wage trajectories that transcend tenure in one firm, and reduced unemployment for those with job training. This part concludes with an attempt to estimate volumes and profitability rates of job training directly from data on incidence, duration, and wage growth effects of observed training. Part II reports on findings about effects of technological change on the use of human capital and on consequent effects of productivity growth on wages, turnover, and unemployment. Among other things, these findings indicate that: acceleration of technological changes in a sector raises the share of educated workers within it; sectors with more rapid productivity growth show higher rates of return to education; turnover rates decline in sectors with long-run high rates of productivity growth; and technological change tends to reduce unemployment. Contains 33 references and 14 tables for Part I and 21 references and 9 tables for Part II. (YLB)