1 / 19

Dennis Winters Chief, Office of Economic Advisors Department of Workforce Development

Wisconsin’s Workforce Trends. Dennis Winters Chief, Office of Economic Advisors Department of Workforce Development October 13, 2011. So, what will be the biggest socio-economic policy challenge in the next 20 years?. ELDERLY NUMBERS WILL SWELL WIDEN THE SIDEWALKS WILL YA !?. QUANTITY.

davidhayes
Download Presentation

Dennis Winters Chief, Office of Economic Advisors Department of Workforce Development

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Wisconsin’s Workforce Trends Dennis Winters Chief, Office of Economic Advisors Department of Workforce Development October 13, 2011

  2. So, what will be the biggest socio-economic policy challenge in the next 20 years?

  3. ELDERLY NUMBERS WILL SWELLWIDEN THE SIDEWALKS WILL YA !?

  4. QUANTITY

  5. WISCONSIN’S WORKFORCE GROWTHBECOMES FLAT Source: Bureau of Labor Statistics, OEA

  6. BLS RAISED LFPR FOR THE FUTUREPARTICULARLY FOR OLDER COHORTS Source: Bureau of Labor Statistics, Bureau of the Census, OEA

  7. WISCONSIN’S WORKFORCE HIGHER LFPRs OFFER LIMITED GAINS Source: Bureau of Labor Statistics, OEA

  8. LITTLE CHANGES EVEN WITH HIGHER LFPR RETIREMENTS SWAMP PARTICIPATION Source: Bureau of the Census, DOA, OEA

  9. NURSING WORKFORCE IN WISCONSINDEMOGRAPHICS AT WORK Source: Office of Economic Advisors

  10. QUALITY

  11. THIS IS NOT YOUR FATHER’S ECONOMY IN FACT, THAT WAS AN ABERRATION

  12. NEW ECONOMYNEED FOR SKILLS "The days are over when you could walk into a paper mill with a high school diploma and run one of the machines." – Patrick Schillinger, former Wisconsin Paper Council President,Center will teach paper-industry technology, Milwaukee Journal Sentinel, JS Online, October 21, 2004.

  13. TURN YOU LOOSE ON THIS BABY I DON’T THINK SO

  14. FUTURE EMPLOYERS NEED FOR CREATIVITY & INNOVATION “Today in most fields I know, the struggle is about creativity and innovation. There is no script.” – Robert B. Shapiro, former CEO & Chairman, Monsanto Corporation

  15. WORKPLACE REQUIREMENTS CHANGES IN SKILLS USED AT WORK* Nonroutine interactive Nonroutine analytical Routine manual Routine cognitive Nonroutine manual * Based on the Dictionary of Occupational Titles Source: Autor, Levy and Murnane, 2003 Source: K-12 Education and Economic Summit presentation by Alan B. Krueger, Princeton University

  16. EQUAL SKILLS NOW REQUIREDNO TWO-TRACKING Occupations earning greater than $30,000 per year, require some post-secondary education. Source: Achieve, Inc, OEA.

  17. Unprecedented – we have never faced a declining workforce before; Assured – demographics will change little; Largely unalterable – demographics and migration patterns do not change abruptly. WORKFORCE TRENDSARE:

  18. Potentially devastating – without sufficient productivity gains the state’s economy will stagnate; Necessitating a focus on talent – large investments in education and training are needed; Requiring match – talent supply and industry demand must be matched or you lose both. RAMIFICATIONS OF WORKFORCE TRENDSARE:

  19. CONTACT INFORMATION • Dennis Winters • Phone: 608-267-3262 • Email: dennis.winters@dwd.wisconsin.gov • Website:www.dwd.wisconsin.gov • OEA website: www.dwd.wisconsin.gov/oea

More Related