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Human Capital and Productivity: Toward Quality Job Creation

Human Capital and Productivity: Toward Quality Job Creation. Randall Eberts W.E. Upjohn Institute for Employment Research, USA International Economic Forum of the Americas Conference of Montréal 11 June 2014. National Talent Shortage in US?. Unemployment rate.

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Human Capital and Productivity: Toward Quality Job Creation

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  1. Human Capital and Productivity: Toward Quality Job Creation Randall Eberts W.E. Upjohn Institute for Employment Research, USA International Economic Forum of the Americas Conference of Montréal 11 June 2014 W.E. Upjohn Institute

  2. National Talent Shortage in US? Unemployment rate Source: Manpower Talent Shortage Survey, 2013 Economists debate whether there is a skills mismatch or talent shortage in U.S. , as employers complain they have difficulty hiring qualified workers. Other factors may be in play. For instance, the 2012 Manpower Report stated: “The pay issue is most pronounced in U.S. where over half of employers indicate that inadequate compensation makes it difficult to land candidates. This suggests employers may need to consider paying more to attract the talent they need.” W.E. Upjohn Institute

  3. National talent shortage in Canada? Unemployment rate Source: Manpower Talent Shortage Survey, 2013 W.E. Upjohn Institute

  4. Canada and US employers report difficulty filling similar jobs: Top ten list Canada US Skilled trades workers Sales Reps Drivers IT staff Accounting and finance Engineers Technicians Management/Execs Mechanics Teachers • Skilled trades workers • Engineers • Management/Execs • Sales representatives • Technicians • Drivers • Accounting and finance • IT staff • Teachers • Laborers Source: 2013 Talent Shortage Survey Research Results, Manpower W.E. Upjohn Institute

  5. Education Gap: Disconnect between Educators and Businesses • Differences in perception of job readiness • 49% of employers believe new graduates are adequately prepared for entry-level jobs • 89% of educators think they are prepared • Lack of communication • One-third of employers say they never connect with educators • More than a third of educators report they are unable to estimate the job-placement rates of their graduates • Fewer than half of youth said they understood the job prospects of the discipline they studied in school McKinsey Center for Government: “Education to Employment, Designing a System that Works, ” 2012. W.E. Upjohn Institute

  6. Consequences of Education Gap Larger the skills gap, the lower the job creation Each dot is a US metro area; data provided by Rothwell, 2012 W.E. Upjohn Institute

  7. Consequences of Education Shortage Larger the education gap, the higher the unemployment rate Each dot is a US metro area; data provided by Rothwell, 2012 W.E. Upjohn Institute

  8. U.S. Workforce Development System:Bringing Together Employers and Training Providers • Workforce Investment Boards • Catalysts for local collaboration between educators and businesses • Businesses work with training providers to develop training curriculum • Eligible Training Provider List • Regional Partnerships • WIRED • Michigan Regional Skill Alliance • Industrial sector consortia • Community Colleges W.E. Upjohn Institute

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