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Good Jobs: How Important Are Credentials?. Cynthia Newhouse EVT 7066 Fall 2008. Postsecondary Education: Is it worth it?. To Enroll or Not to Enroll Most important decision for a U.S. worker Why? Educational Attainment: Plays critical role in labor market

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Good jobs how important are credentials

Good Jobs:How Important Are Credentials?

Cynthia Newhouse

EVT 7066

Fall 2008


Postsecondary education is it worth it
Postsecondary Education:Is it worth it?

  • To Enroll or Not to Enroll

    • Most important decision for a U.S. worker

    • Why?

      • Educational Attainment:

        • Plays critical role in labor market

        • Impacts earnings, job opportunities, & overall job satisfaction

  • Factors to consider

    • Educational Trends

      • Steady increase in number who complete some type of college

    • Labor Market Trends

      • A fast-paced increase in number of jobs requiring at least some college


What are good jobs
What are “good” jobs

  • A “good” job

    • Satisfies 3 needs:

      • Extrinsic tangible rewards

      • Intrinsic rewards

      • Social relationships

  • Job satisfaction

    • Determined by type and kinds of rewards received through work

      (O’Toole & Lawler, 2006)

  • Due to the nature of employment data, this presentation focuses mostly on the extrinsic reward of salary/wages; however, a truly “good” job with high job satisfaction provides fulfillment of all three needs


Education premium
Education Premium

  • The disparity between those with the least amount of education and those with the most amount of education.

    • Continues to increase over time

      • In 1979, those who completed college earned 1.6 times those who dropped out of high school

      • In 2006, this rate rose to 2.5


Educational attainment trends
Educational Attainment Trends

Ages 25 or older

Only 1 out of every 20 people had earned a college degree

Ages 25 – 64

32.6 % have earned a bachelor’s degree

28% have some college

29.6% earned high school diploma or GED

9.8% less than high school diploma

1940

2006


Education how far will you go
Education: How Far Will You Go?

  • On average, Education, Income


2006 income disparity by educational attainment
2006 Income Disparity by Educational Attainment

Having a Bachelor’s degree or higher yields almost 2 and ½ more than those who have not earned their high school diploma


Educational attainment trends labor market trends
Educational Attainment Trends & Labor Market Trends

% of Labor Force ages 25 – 64

by level of educational

attainment over time

Compare: Some College

1970 – 11.8 %

2005 – 28 %

Projected growth in employment

between 2001 – 2014 based on educational attainment

In 1970, 38.1 % of labor force 25 – 64 did not have more than a high school diploma


High growth high wages
High-Growth, High Wages

87% of

High-Growth, High-Wage jobs projected for 2004 – 2014 require at least some college


Does educational attainment always mean higher earnings
Does Educational Attainment Always Mean Higher Earnings?

  • No!

  • Examples:

    • Air Traffic Controllers earn $117,240 in median annual earnings

      • However, there are only 3 job openings expected between 2006 – 2016

    • Management positions

      • Many do not require degrees, rather years of experience can qualify you for the job

      • Median annual earnings are $82,490

        • However, 55.4 % of managers have at least a Bachelor’s degree.


Educational attainment and unemployment
Educational Attainment and Unemployment

  • One relative truth is that education does decrease the likelihood of unemployment:



Does education credentials good jobs
Does Education/Credentials = “Good” Jobs? 2006 - 2016

  • The answer: It depends

    • Depending on your interests, values, and skill sets, you may be competitive and happy in the low-skill, low-wage service industry

    • There are a few industries, however specialized (i.e. “Air Traffic Controllers”) and with relatively few job openings, where you can earn good wages, do meaningful work, and experience positive social relationships.

    • Trends, however, illustrate the growing number and types of occupations which require at least some postsecondary education


Looking ahead
Looking Ahead 2006 - 2016

  • Encourage informed decision-making

    • Explore options

    • Provide resources

    • Create opportunities for reflection

  • Design curriculum accordingly

    • Preparation for college-level work

    • Preparation for trades, if interested

    • Preparation for transition into work

      • Promote “soft” skill development

      • Provide real-world experiences when possible


References
References 2006 - 2016

  • http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report/chapter1/main.htm

  • http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report/chapter2/main.htm

  • https://my.usf.edu/bbcswebdav/users/wblank/EVT%206661/Economic%2C%20Demographic%20%26%20Employment%20Trends/Americas%20Dynamic%20Workforce.pdf

  • http://data.bls.gov/oep/servlet/oep.noeted.servlet.ActionServlet

  • http://www.careerinfonet.org/finaidadvisor/earnings.aspx?nodeid=21

  • O’Toole, J. and Lawler, E. (2006). The New American Workplace.

    New York, NY: Palgrave Macmillan.


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