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Managing Academic Time Global Economy. to Competein a Presented by John Morales
The Context • Global Competition • Aging in America • Educational Attainment (Increased Payoff) • Demographic Shifts • Immigration Issues • Technology Changes • Collision of Forces
BOOMERS EXIT BUSINESS EXPANDS KNOWLEDGE AGE GROWS GLOBALLY EDUCATION STRUGGLES A Collision of Forces:The Outcome 10 million jobs will open in highly skilled service occupations over the next 10 years 43% of the U.S. workforce will be eligible to retire over the next decade 61% of employers believe high school grads are not qualified for the workforce Rapid changes in technology mean every worker needs training to keep up Resulting in a very significant gap in professional, skilled & leadership talent across industry sectors
The Context Shows Need For: • Action • Reform • Providing for more school days and more time on task in the classroom
Global Competition • India & China’s Population • Average Chinese Wage 3% for similar jobs • In India, IT Engineer paid 1/8 of comparable U.S. Wage • Knowledge drives the global economy • U.S. Challenged to keep pace with education offered in other countries • Technology has increased speed of globalization
Aging in America • By 2030, 41 million new entrants to workforce • By 2030, 76 million workers eligible to retire • Lack of available workers • Lack of necessary skills
Labor Demand Will Outstrip Supply Labor Force/Demand: 2002-2031 Source: Employment Policy Foundation analysis and projections of Census/BLS and BEA data.
Educational Attainment • Minorities losing educational race in America • 97% of Hispanic workers enter workforce w/o college degree • Low High School graduation rates • Low ethnic college retention and graduation rates
Education Post-High School Matters • 75%of new job growth requires some level of post-high school training • 1980 – 200019%growth in workers with post-high school education • 2000 – 20204%growth in workers with post-high school education
Employment Change by Education: 1992 – 2002 Employment Policy Foundation tabulation of BLS Statistics
College Grads by Age 26 • 75% Young people from High Income families • 8% Young people from Low Income families
Health & Pension Coverage Decline • Health Coverage for recent grads: • 1979: 63.3% • 2002: 34.7% • Health Coverage dropped 45% • Pension Coverage for recent grads: • 1979: 36% • 2002: 20% • Pension coverage dropped 44%
China: 2.5 Million India: 2.3 Million U.S.: 1.3 Million College Grads Last Year
Where Does Immigration Fit in this Debate? • Immigration is a gigantic factor in the US workforce right now • Last 5 years 43% of all the population growth in United States is from immigration • That rate of foreign immigration as a share of total population growth percentage is higher than ever in US history • 79.6% of immigrants are working, higher than overall US labor force participation • How big is this issue? • Percent of foreign born in US labor force 1980 = 7.9% • In 2000 this figure jumped to 15.8% • Percent of High school dropouts, immigrants = 36.2% of workforce, native born 11% of workforce Center for Labor Market Studies, Northeastern University
Immigration Issues • Need for serious national dialogue and action • Growing underclass • Can we reach a consensus?
Conclusion We need the leadership to successfully redirect our educational efforts to: • Provide more time on task in the classroom • Provide for academic rigor • Elevate education’s status and value proposition Our Future Is At Stake
acknowledgements • Steve Gunderson, who is now CEO of the Council on Foundations, recently of the Greystone Group; the co-author of the Jobs Revolution. http://www.jobsrevolution.com/ • Kati Haycock, the Director of the Education Trust is one of the leading child advocates in the field of education. http://www2.edtrust.org/edtrust/summaries2004/states.html • Jared Bernstein, Director of the Living Standards Program at the Economic Policy Institute, formerly held the post of deputy chief economist at the U.S. Department of Labor. http://www.epi.org/