Education and the Philadelphia Economy

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Presentation transcript:

Education and the Philadelphia Economy Presented by: Phil Hopkins Managing Director, US Regional Services Global Insight April 6, 2005

Employment Growth vs. Share of Population With College Degree 2/25/2019

Large MSA Income s. Employment Share in Creative Occupations 2/25/2019

Employment by Occupation November 2003 2/25/2019

Educational Attainment by Occupation in 2003 – United States 2/25/2019

Educational Attainment in the Philadelphia PMSA in 2000: 2/25/2019

2003 NAEP Scores 2/25/2019

Metro Area Population 2/25/2019

Jobs Growth 2/25/2019

Migration in 2003 To Philadelphia, 36,889 From: Foreign countries 1,706 Other states 20,113 Metro Phil. 12,595 From Philadelphia 50,532 To: Foreign countries 828 Other states 23,148 Metro Phil. 23,738 2/25/2019

People Follow Jobs and Perceived Economic Opportunity And Jobs Follow People Regional attractiveness to business Pool of available skilled, educated labor Economic developers focus on attracting high Income individuals The Rise of the Creative Class High amenity cities grow faster! Weather & coasts and mountains Social life – restaurants/theatre/sports Public services SCHOOLS Safety Mobility – freeways/mass transit 2/25/2019

Education and Economic Growth Education and Economic Growth Economic Structure and Occupation Mix Drive the Need for Education Education Must Be Viewed As A Competitive Advantage – the Way to Avoid the Wage Gap Improving Educational Attainment Should Be Viewed as an Economic Development Imperative Low Achievement in Urban Schools Hurts the Entire Metropolitan Economy Equitable Statewide Funding is a Start – But Not the Whole Answer Remember Votech 2/25/2019