Education & Full Employment. Garry Jacobs World Academy of Art & Science “Dream of a Global Knowledge Society” Inter-University Centre, Dubrovnik, Sept 8, 2012. Global Pop. & Employment 1950-2007. G20 Working Age Pop 2010-2020.
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Education & Full Employment Garry Jacobs World Academy of Art & Science “Dream of a Global Knowledge Society” Inter-University Centre, Dubrovnik, Sept 8, 2012
G20 Working Age Pop 2010-2020 • ILO projects world needs to create 600 million jobs in 10 years to create global full employment. • Decline in working age population in economically advanced countries will necessitate massive import of workers. • World’s working age population will increase by 440 million by 2020. • India needs to create 30% of those jobs
Education is Key Driver of Economy • Creates demand for new workers • Stimulates the growth of allied sectors, such as publishing, media, construction. • Raises the skills and capacities of the workforce • Postpones the entry of new workers into the workforce • Raises the wage expectations, incomes and consumption patterns • High correlation between rising levels of tertiary enrollment and rising levels of per capita GDP.
Rising demand for education • 63% of US jobs will require postsecondary training by 2018 • US will create 14 M new jobs in 10 years, but only for those with at least 2 years of college • Global Job Market (McKinsey projections) • surplus of 93 M low-skilled workers, 35 M in OECD • shortage of 85 M high & medium skilled workers, 18 M in OECD
Global Demand for Higher Education • Global enrollment in universities rose from 500,000 in 1900 to around 100 million in 2000. • Raising global participation rates in higher education to the U.S. level would require establishment of hundreds of thousands of new colleges and universities and the training of millions of qualified instructors. • For India to reach US levels • Raise number of college students from 14M to 81M • Create about 100,000 new colleges in India alone.
Benefits of Cutting US Drop-outs 50% • Support 54,000 jobs in education • Purchase homes and cars $20 billion • Raise GDP by $9.6 billion by mid-career • Earn $7.6 billion more in an average year • Spend additional $5.6 billion a year • Invest additional $2 billion a year • Boost state tax revenues by $713 million a year • Raise college enrollment and graduation rate
Global e-Learning Trends • USA & Europe dominate the global eLearning market with more than 70% share of the revenues. • By 2014, Asia is expected to overtake Western Europe to become the second largest market after North America. • There are at present 760,000 students in the US who are homeschooled online full-time and part-time. • The number of US students taking all their classes exclusively in a traditional physical classroom environment is shrinking by -22.8%. • In 2016, there will be more full-time online students in USA than students taking all classes in physical classroom. • 100% of Primary and Secondary Schools in Korea and Singapore offer some type of online education already. • In June 2011, the South Korean Education Ministry mandated that all instructional content in all primary and secondary schools must be 100% digital by 2015. • By 2015, every school child in South Korea will be carrying a personal learning device.
Continuous Vocational Education • 32% of the Danish working age population between 25 and 64 years have participated in vocational programs, the highest in Europe. • Participation rate exceeded 15 % in UK, Netherlands & Slovenia in 2010. • EU-15 average is 11% • EU-27 average 9%. • Most Eastern Europe countries are below 5%. • India 5% of India’s workforce has received formal vocational training.
Global Education Challenge • Raise high school and college completion levels? • Deliver low cost higher education on a global basis? • Raise the level of vocational skills? • Improve the relevance of curricula to support • Employment & Career Development • Entrepreneurship & Self-employment • Innovation, Original Thinking, and Individuality