1 / 10

Investing in What Works: The Importance of Evidence-Based Policymaking

Investing in What Works: The Importance of Evidence-Based Policymaking. Using Data to Improve the Performance of Workforce Training. Lou Jacobson New Horizons Economic Research Bob LaLonde University of Chicago. The Promise of Training.

adem
Télécharger la présentation

Investing in What Works: The Importance of Evidence-Based Policymaking

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. Investing in What Works: The Importance of Evidence-Based Policymaking

  2. Using Data to Improve the Performance of Workforce Training Lou Jacobson New Horizons Economic Research Bob LaLonde University of Chicago

  3. The Promise of Training • Training of at least 9 months can raise annual earnings by $8,000 or more, but only if the program: • Builds skills leading to high-paying jobs in the trainees’ local labor market. • Is well matched to the trainees’ academic background, existing skills, and interests. • Is sufficiently intensive and long lasting.

  4. The Reality of Training • About 25%: • Experience substantial earnings gains. • … by completing high-return career and technical training leading to degrees and certificates. • About 75%: • Obtain academic or career training of little workplace value. • Fail to complete programs that yield high-returns. • Do not obtain enough training to make a difference.

  5. The Problem Many trainees make poor choices because they: • Lack personalized information about the value of training, based on their: • Academic preparation. • Family circumstances. • Local labor market needs. • Lack the know-how to use data to make complex training investment decisions.  • Lack help from knowledgeable mentors.

  6. Our Solution Create a competition to develop state information systems • Assemble relevant data. • Create measures needed to estimate the net-benefits from training: • Probability of completion. • Post-program earnings. • Direct and indirect costs. • Disseminate the information. • Tailor the information to the characteristics of trainees and their labor markets. • Provide career counselors when needed. • Measure the “impact” on trainee decisions. • Sustain cost-effective systems.

  7. Sample Report Card

  8. Why Our Solution Can Work • It recognizes that many training providers offer high-return programs to trainees with diverse backgrounds. • Personalized information and guidance has the potential to increase the return on training investments. • It builds on existing data and information systems. • It tailors the information to the needs of trainees. • It disseminates information and help in ways that will improve training choices.

  9. Investing in What Works: The Importance of Evidence-Based Policymaking

  10. Investing in What Works: The Importance of Evidence-Based Policymaking

More Related