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Global Economy.

Managing. Academic Time. Global Economy. to Compete in 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

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Global Economy.

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  1. Managing Academic Time Global Economy. to Competein a Presented by John Morales

  2. The Context • Global Competition • Aging in America • Educational Attainment (Increased Payoff) • Demographic Shifts • Immigration Issues • Technology Changes • Collision of Forces

  3. 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

  4. The Context Shows Need For: • Action • Reform • Providing for more school days and more time on task in the classroom

  5. 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

  6. The Chart that Changed the World?

  7. Demographics Support a Global Power Shift

  8. Knock Knock: Anybody Home?

  9. 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

  10. Labor Force by Generation

  11. Labor Demand Will Outstrip Supply Labor Force/Demand: 2002-2031 Source: Employment Policy Foundation analysis and projections of Census/BLS and BEA data.

  12. 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

  13. 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

  14. Employment Change by Education: 1992 – 2002 Employment Policy Foundation tabulation of BLS Statistics

  15. College Grads by Age 26 • 75% Young people from High Income families • 8% Young people from Low Income families

  16. 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%

  17. China: 2.5 Million India: 2.3 Million U.S.: 1.3 Million College Grads Last Year

  18. 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

  19. Immigration Issues • Need for serious national dialogue and action • Growing underclass • Can we reach a consensus?

  20. National Workforce Diversity

  21. 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

  22. 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/

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