1. Cynthia Newhouse EVT 7066 Fall 2008

2.  To Enroll or Not to Enroll ◦ Most important decision for a U.S. worker ◦ Why?  Educational Attainment:  Plays critical role in labor market  Impacts earnings, job opportunities, & overall job satisfaction  Factors to consider ◦ Educational Trends  Steady increase in number who complete some type of college ◦ Labor Market Trends  A fast-paced increase in number of jobs requiring at least some college

3.  A “good” job ◦ Satisfies 3 needs:  Extrinsic tangible rewards  Intrinsic rewards  Social relationships  Job satisfaction ◦ Determined by type and kinds of rewards received through work (O’Toole & Lawler, 2006)  Due to the nature of employment data, this presentation focuses mostly on the extrinsic reward of salary/wages; however, a truly “good” job with high job satisfaction provides fulfillment of all three needs

4.  The disparity between those with the least amount of education and those with the most amount of education. ◦ Continues to increase over time  In 1979, those who completed college earned 1.6 times those who dropped out of high school  In 2006, this rate rose to 2.5

5. 1940 2006 Ages 25 or older Only 1 out of every 20 people had earned a college degree Ages 25 – 64 32.6 % have earned a bachelor’s degree 28% have some college 29.6% earned high school diploma or GED 9.8% less than high school diploma

6.  On average, Education, Income

7. Having a Bachelor’s degree or higher yields almost 2 and ½ more than those who have not earned their high school diploma

8. % of Labor Force ages 25 – 64 by level of educational attainment over time Compare: Some College 1970 – 11.8 % 2005 – 28 % Projected growth in employment between 2001 – 2014 based on educational attainment In 1970, 38.1 % of labor force 25 – 64 did not have more than a high school diploma

9. 87% of High-Growth, High-Wage jobs projected for 2004 – 2014 require at least some college

10.  No!  Examples: ◦ Air Traffic Controllers earn $117,240 in median annual earnings  However, there are only 3 job openings expected between 2006 – 2016 ◦ Management positions  Many do not require degrees, rather years of experience can qualify you for the job  Median annual earnings are $82,490  However, 55.4 % of managers have at least a Bachelor’s degree.

11.  One relative truth is that education does decrease the likelihood of unemployment:

12. OccupationEducation2006 Median Earnings Registered NurseAssociate’s degree$57, 280 per year Retail Sales PersonOn-the-job training$9.50 per hour Customer Service Rep.On-the-job training$13.62 per hour Food Prep. & Service WorkerOn-the-job trainingVaries Office ClerksOn-the-job training$23,710 per year Personal & Home Care AidesOn-the-job training$8.54 per hour Home Health AidesOn-the-job training$9.34 per hour Postsecondary TeachersDoctoral degree$56,120 per year Janitors & CleanersOn-the-job training$19,930 per year Bookkeepers, auditors, accounting clerks On-the-job training$30,560 per year

13.  The answer: It depends ◦ Depending on your interests, values, and skill sets, you may be competitive and happy in the low-skill, low-wage service industry ◦ There are a few industries, however specialized (i.e. “Air Traffic Controllers”) and with relatively few job openings, where you can earn good wages, do meaningful work, and experience positive social relationships. ◦ Trends, however, illustrate the growing number and types of occupations which require at least some postsecondary education

14.  Encourage informed decision-making ◦ Explore options ◦ Provide resources ◦ Create opportunities for reflection  Design curriculum accordingly ◦ Preparation for college-level work ◦ Preparation for trades, if interested ◦ Preparation for transition into work  Promote “soft” skill development  Provide real-world experiences when possible

15.  http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report /chapter1/main.htm http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report /chapter1/main.htm  http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report /chapter2/main.htm http://www.dol.gov/oasam/programs/history/herman/reports/futurework/report /chapter2/main.htm  https://my.usf.edu/bbcswebdav/users/wblank/EVT%206661/Economic%2C%20De mographic%20%26%20Employment%20Trends/Americas%20Dynamic%20Workforce.pdf https://my.usf.edu/bbcswebdav/users/wblank/EVT%206661/Economic%2C%20De mographic%20%26%20Employment%20Trends/Americas%20Dynamic%20Workforce.pdf  http://data.bls.gov/oep/servlet/oep.noeted.servlet.ActionServlet http://data.bls.gov/oep/servlet/oep.noeted.servlet.ActionServlet  http://www.careerinfonet.org/finaidadvisor/earnings.aspx?nodeid=21 http://www.careerinfonet.org/finaidadvisor/earnings.aspx?nodeid=21  O’Toole, J. and Lawler, E. (2006). The New American Workplace. New York, NY: Palgrave Macmillan.