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Success in the New Economy by Kevin Fleming

Added Apr 19, 2016 •

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In partnership with Citrus College in Southern California, the video “Success in the New Economy” was developed to help a broader audience be prepared for tomorrow’s labor market realities. The end result is a compelling case for students to receive both hands-on, technical training as well as theoretical, classic education as part of a balanced approach to life and career preparation. With over 110,000 views, the impact of the animated video has far surpassed our initial expectations. It has resulted in conference presentations from coast to coast and the development of other customized videos. America has a skills gap. We must discuss education, workforce training, and policy changes that can make systemic shifts for the betterment of our regional economies.

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education is core to our economy but an order the guide our Educational Systems and maximize future income we must understand the missing between education and our workers in my pursuit of higher education I have earned two bachelor's degrees two master's degrees and I'm working on a PhD in total this is cost me over $150,000 I've done all this because I believe formal education is important part of this belief came from can sharks like this presenting a correlation between higher degrees and higher income showing on average that a person with a college degree earns far more money than the average person with how high school diploma earnings for having a 4 year degree has fueled a college for all philosophy causing Educators and parents to encourage going to University and University to major in anything in Pursuit Of Future job security social mobility and financial prosperity this philosophy has in East College enrollment resulting in 66% of high school graduates in this country enrolling in higher education right after high school that's two out of three initially change the successful ones but you won't see advertised is the reality that most drop out and only a quarter of those that enroll will finish a bachelor's degree only after these few do many of them start Exploring Careers it is here that they discover that their degree may not have prepared them for the world of work you may be well-educated but not every day Easter eggs preparation for employment this misalignment between degrees and job skills causes half of University graduates to be underemployed in what are called grey collar jobs taking positions that do not require the education they had received at a cost that is more than they can afford conventional wisdom suggests are University degree guarantees a higher salary but with Rising Education costs a shrinking job market and the oversaturation of some academic majors in the workforce this old advice this is now with Miss from majority of students the economy and the world have dramatically changed over the last three generations we've gone from 13% of the population stepping into College classroom to 60% attending some form of higher education in 1960 When taking into account all jobs the American economy percent required a four-year degree or higher 20% we're technical jobs requiring skill training and 60% were classified as unskilled but what percentage to meet the labor market demand for tomorrow in 2018 Harvard University predicts only 33% of all jobs will require a 4 year degree more more by the overwhelming majority will be middle-skill jobs requiring technical skills and training at the credential or associate degree level before you degree have eBenefits but think about the people you know who from an economic perspective inefficiently spent time and money to get a degree that perhaps they didn't really need for the career they are in the ratio of jobs in our economy is 1 - 7 for every occupation that requires a master's degree or more to professional jobs require a University degree and there over half a dozen jobs requiring a certificate or degree and each of these technicians are in very high skilled areas that are in great demand fundamental to all Industries it was the same in the same in 1990 and will be the same in 2030 the hope for encouraging University education is that as the number of University train workers increases the demand for their services in the workplace will increase as well unfortunately this is not so the whole pie may get as the labor force in the economy grows but the ratio will not change the reality is there will not be more professional jobs available within the labor market and some National jobs have been replaced by technology or are being outsourced well-intentioned attempts to send more and more students straight to the university will not change the types of Jaws dominate our economy nor will a college for all mentality mask these labor market realities the college for all rhetoric that has been so much a part of the current education reform move is often interpreted as University for all this message needs to be significantly broadened to a post High School credential for all students at various educational have left school without employable skills cost taxpayers Millions for highly trained skilled technicians so how do you position yourself for high wage in demand jobs let's say you were considering a career as either an electrician or manager you would find that the average annual income for electricians is $51,000 only about half of the 105,000 average wage for management occupations so at first glance it looks as if getting a bachelor's degree in business is a no-brainer but adding skills and ability into the picture as a whole new Dynamic what if you have the potential to excellent electrician but lack the skills and ability to be an excellent manager then you should be looking at projected incomes towards the bottom of the pay scale for managers and what's the top for electricians you would then discover that electricians near the top of the pay scale macron 86000 far higher than the income of a manager near the bottom of the pay scale 2000 now this is just one example but the concept is true throughout all Industries the claim that you will make more money with an increased amount of Education not necessarily an accurate it's just incomplete that advice is based just on the averages but no one is perfectly average everyone has unique skills talents and in in fact the income for the top individuals in a wide variety of skill jobs that require an industry credential or two-year degree is far higher than that income for many occupations that require a 4 year degree associate degree earners range between 27000 and 68000 while there's recipients in between 34000 and 97000 but this data only accounts for the 25th to the 75th percentile of full-time adult workers this means that 25% of associate degree holders earn more than 68,000 annually and 25% of bachelor's degree holders less than 34,000 our world has changed and in this new economy the University degree is no longer the guaranteed path towards financial success as it was the previous generations and even if you do earn one that education alone may not be enough in today's highly technical knowledge-based economy having Hands-On skills and perfecting witch that can be more valuable than getting a degree in something simply to get one employers want to know what you can do and what you can do well not just what degree hangs on your wall since noon emerging occupations in every industry now require a combination of academic knowledge and Technical ability we need to ensure there were also guiding students towards careers adjust to the university so before enrolling in classes are deciding what you're going to do next in your life step one is self-exploration in addition to your interests analyze your talents and strengths Step2 is career exploration understand the jobs available the income ranges they pay and evaluate the those they require identifying an area that appeals to your interests skills and the labor market it may be your first career and then you can develop a tendon career plan complete with multiple training and education options the key is to align your interest and abilities with your first career choice and Education and Training need to receive this alignment will help bring your future into focus and ensure your position at the top of the pay scale in your chosen career what all this data shows success in the new economy is as much about acquiring the knowledge skills and abilities needed for in demand occupations as it is to be well-educated both paths but education combined with Technical Training is how you Altima Lee secure a competitive advantage in the new economy community colleges are in the ideal position provide over 70% of tomorrow's Workforce with an education combined with applied technical skills industry-driven credentials and specific preparation from being a skilled Craftsman OR technician is highly valued Investments and career education programs and high schools and community colleges will help all students obtain an education which includes Technical Training and preparation for the workplace this is how all students can be successful new economy both education and technical skills are the new currency will you be ready

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