t he g reat r ecession, the g reat d ivergence, s kills and i nnovation laura dresser october 16,...
TRANSCRIPT
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THE GREAT RECESSION, THE GREAT DIVERGENCE, SKILLS AND INNOVATIONLaura DresserOctober 16, 2013COWS.ORG
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Nobel Wisdom
The world has reacted mostly with disbelief that a superpower could fall into such dysfunction.
Robert Shiller: ‘When I look around I see a lot of foolishness, and I can’t believe it’s not important economically’
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Fiscal CliffThe unthinkable approaches
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recessionGreat Recession
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The Worst Recession: Jobs
0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 6693%
94%
95%
96%
97%
98%
99%
100%1981 recession
1990 recession 2000 recession
2007 recession
Months since recession start
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decadeLost Decade
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Depressing Break from Past
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Divergence
Great Divergence
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Growth Now Lifts Yachts
0%
50%
100%
150%
200%
250%
300%
Hourly compensa-
tion
107.8%
Net productivity
240.9%
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Fiscal CliffThe unthinkable approaches
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GrindLow Wage Grind
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Common Jobs, Hard Lives
Poverty wage work increasing in this recovery
Low wage sectors offer low wages, volatile hours, weak benefits
Very hard to transition to better jobs
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Highest education level
Median Hourly Wage
Less than HS degree $10.35 HS degree $14.60Some College, no degree
$13.49
Associates Degree, occupational
$17.90
Associates Degree, academic
$17.79
Bachelors or more $22.91
Education Pays (WI, 2011)
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Better Skills and Wages: Who Needs Stronger
Pathways? COWS and CLASP (find your state on line)
U.S. Total: 37.4% of workers earn less than national median and have little English and education short of college degree.
In Texas alone: 4,124,447 workers
Education is increasingly the gateway to family-sustaining employment and these data show who can gain from that education.
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What Stands in the Way of Getting that Education?
Life/family
Low wages/work stress
Low basic skill levels
Negative experiences in the past with education system
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Innovation Bridges and Pathways
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What to do?
Build stronger connections from adult basic education systems into technical training.
Rethink and refine assessment systems – remember lines are blurry here.
Streamline remediation and think hard the negative impact required remediation series.
Integrate developmental and college level learning.
Provide academic support to students on both sides of “cut scores”
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Fiscal CliffARGH!!!!
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COWSEquity, Sustainability, Democracyand lots of data and ideas newletter, like, tweet