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Special Committee on Improving Educational Opportunities in High School

Special Committee on Improving Educational Opportunities in High School. Dennis K. Winters Chief, Office of Economic Advisors Wisconsin Department of Workforce Development. July 16, 2012. THE ECONOMY HAS CHANGED AND SO MUST YOU.

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Special Committee on Improving Educational Opportunities in High School

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  1. Special Committee on Improving Educational Opportunities in High School Dennis K. Winters Chief, Office of Economic Advisors Wisconsin Department of Workforce Development July 16, 2012

  2. THE ECONOMY HAS CHANGED AND SO MUST YOU

  3. ECONOMIC RECOVERYHOW IS THIS ONE NOT LIKE THE OTHER ONES 3

  4. JOBS RECOVERYHOW IS THIS ONE NOT LIKE THE OTHER ONES

  5. NEW ECONOMYNEED FOR HIGHER SKILLS "The days are over when you could walk into a paper mill with a high school diploma and run one of the machines." – Patrick Schillinger, former Wisconsin Paper Council President,Center will teach paper-industry technology, Milwaukee Journal Sentinel, JS Online, October 21, 2004.

  6. WORKPLACE REQUIREMENTS CHANGES IN SKILLS USED AT WORK* Nonroutine interactive Nonroutine analytic. Routine manual Routine cognitive Nonroutine manual * Based on the Dictionary of Occupational Titles Source: Autor, Levy and Murnane, 2003 Source: K-12 Education and Economic Summit presentation by Alan B. Krueger, Princeton University

  7. WISCONSIN’S WORKFORCE GROWTHBECOMES FLAT Source: Bureau of Labor Statistics, OEA

  8. WE GET A BOOST IN PERSONAL INCOME FROM MORE EDUATION AND TRAINING Source: 1992-2007 CPS (Wisconsin) & DOA Pop Projections

  9. THE INCOME BOOST ONLY DELAYSTHE PCI LOSS FOR A FEW YEARS Source: Bureau of Labor Statistics, Bureau of the Census, OEA

  10. Unprecedented – we have never faced a declining workforce before; Assured – demographics will change little; Largely unalterable – demographics and migration patterns do not change abruptly. WORKFORCE TRENDS ARE:

  11. Potentially devastating – without sufficient productivity gains the state’s economy will stagnate; Necessitating a focus on talent – large investments in education and training are needed; Requiring match – talent supply and industry demand must be matched or you lose both. RAMIFICATIONS OF WORKFORCE TRENDS ARE:

  12. EDUCATION INCLINATIONGAINS LIMITED AT BEST

  13. JOB OPPORTUNITIES

  14. TOP OCCUPATIONS WITH MOST NEW JOBSWISCONSIN, 2008-2018 Source: Office of Economic Advisors, Wisconsin Projections 2008-2018

  15. FASTEST GROWING OCCUPATIONSWISCONSIN, 2008-2018 Note: Only occupations with at least 500 jobs in 2018 were included. Source: Office of Economic Advisors, Wisconsin Projections 2008-2018

  16. EDUCATION AND JOB PROSPECTSCORRELATED WITH EARNINGS 2008-2018 Employment Growth & 2009 Wage by Job Openings & Education Source: Office of Economic Advisors, Wisconsin Projections 2008-2018

  17. Invest in early childhood development, especially for at-risk kids – high reward, low risk, perpetual gains investment Don’t ignore the “invisible 80%” – if 70% of jobs in Wisconsin won’t require a BS, these kids are our sweet spot Need high-end jobs in Wisconsin if we want to keep the best and brightest GENERAL POLICIES TO CONTMEPLATE ARE:

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