Workforce Composition
General
Competitive Cities in the Global Economy (November 2006) Organisation for Economic Co-operation and Development (OECD)
The Minneapolis-St. Paul metro region performance exceeds that of the nation on indicators of global competitiveness including per capita Gross Domestic Product (GDP), productivity, employment and unemployment, skills/educational attainment. The OECD report compares 78 metropolitan regions around the world. It cautions that "the growth capacity of metro-regions should not be overestimated as metro-regions are not always synonymous with success." The conference proceedings further outline linkages between a strong higher education enterprise and economic growth through innovation, development of a entrepreneurial culture and supportive environment, human capital, direct economic multiplier effects and governance.Can Higher Education Foster Economic Growth?—A Conference Summary (March 2007), Federal Reserve Bank of Chicago
"...the Midwest's higher education institutions represent a primary asset to the region's economy, providing highly skilled human capital and research and development potential for new businesses and technology transfers. ...higher education is being asked to fill new roles regionally. Would a direct economic development mission compromise traditional roles of higher education in teaching and research?"Demographics and Destiny (April 2006), Minnesota Economic Trends, Commissioner Matt Kramer, Minnesota Department of Employment and Economic Development
“…the overriding demographic reality for Minnesota and the Upper Midwest is age: we’re old and growing older.... This matters for at least two reasons. First: as the Baby Boom generation reaches retirement age, the pool of available workers to satisfy the state’s labor demands will diminish. And second: as they age, these individuals will need more services, most notably health care, but there will be fewer people to provide those services.”But, what about tomorrow? PDF 250 KB, presentation given to the Minnesota Planning Association on the effects of an aging population, September 20, 2006
“Aging, combined with growth and increased diversity will lead to challenges and opportunities not fully anticipated.”Skilled Labor vs. Unskilled Labor Projections
Minnesota Job Outlook to 2014 (2006), Minnesota Department of Employment and Economic Development
“Minnesota’s total employment is projected to increase 12.8 percent over the 2004-2014 period, just below the 13.0 percent projected increase for U.S. employment... The two largest major occupational groups in Minnesota—professional and related occupations; and service occupations—will increase the fastest and add the most jobs in Minnesota from 2004 to 2014. These two major occupational groups, which tend to have occupations at opposite ends of the educational attainment and earnings spectrum, are projected to account for more than half of all employment growth over the next 10 years.”Digest of Education Statistics 2007 (figure 22) National Center for Education Statistics, U.S. Department of Education
Unemployment Rates for the population 25 years of age and older decline with each degree level attained. Adults failing to complete their high school diploma have an average unemployment rate of 7.6 percent in 2005 as compared to adults who completed a bachelor’s degree (2.3 percent unemployment rate).Employer Financed Education
Recent Participation in Formal Learning Among Working-Age Adults with Different Levels of Education (2008), U.S. Department of Education
Participation in work-related courses was eight times higher among adults with at least a bachelor's degree than for adults with no high school credential. When limited to adults who were employed, those with a bachelor's degree were three times more likely to participate in work-related education than those with only a high school diploma. Costs are frequently cited as a barrier to continuing education, especially for those adults with low levels of education and whose earnings tend to be relatively low.Financing for Adult Learning Employer Support for Adult Education Indicator 44” PDF 125 KB, (2004), and Participation in Education-Adult Learning, National Center for Education Statistics, U.S. Department of Education
“In 2001, 75 percent of employed adults ages 25– 64 who participated in adult education received employer financial support. Sixty-nine percent of participants reported that their employer required their participation…. The percentage of employed participants who received employer financial support for work related education varied with certain occupational and demographic characteristics. Adults who had not completed high school were less likely to receive employer financial support than those who had attained higher levels of education.”Critical Skill Production
Preparing the Health Workforce PDF 294 KB, (2006), Eleanor Schiff, U.S. Department of Education
“The Bureau of Labor Statistics (BLS) projects that 16 of the 30 fastest growing jobs in the next decade will be in the health professions. There are several reasons for this—mainly demographic….The long-term projections for the nursing workforce are worrisome. The Department of Labor estimates that the United States will need 1.2 million new nurses by 2014—which will cause a shortfall between 400,000 and 800,000 nurses.”Rising Above the Gathering Storm: Energizing and Employing America for a Brighter Economic Future (ch. 7) (2006), The National Academies
“Given the United States' history of economic and scientific pre-eminence, it is easy to be complacent about these complex issues, the [National Academies] report says. Following are some indicators that illustrate why decisive action is needed now:· For the cost of one chemist or one engineer in the United States, a company can hire about five chemists in China or 11 engineers in India.· In 2001 U.S. industry spent more on tort litigation than on research and development. Without a major push to strengthen the foundations of America's competitiveness, the United States could soon lose its privileged position.”Global Competition
Tertiary Education Attainment (2007) Organisation for Economic Co-operation and Development (OECD)
University science graduates produced per 100,000 persons employed aged 25 to 34 years in the United States was 1,100 in 2004, well below the OECD average of 1,295 and well behind countries such as Australia, Finland, France, Ireland, Korea, New Zealand and the United Kingdom where rates exceed 2200.Human Population: Fundamentals of Growth (2006), Population Reference Bureau
“Because most of the world's population growth is likely to continue to be in less developed countries, Asia will continue to hold the majority of the world's people.”
(Click on graphic to view at larger size.)
Table 8-15: S&E degrees as share of higher education degrees conferred: 2003, courtesy of National Science Board. 2006. Science and Engineering Indicators 2006, Arlington, VA: National Science Foundation (volume 1, NSB 06-01).
