economic bene ts - creeed · economic bene!ts of postsecondary education for hispanics / latinos...
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Economic Benefits Of Postsecondary Education for Hispanics / Latinos
“New rules” of the workforce and how they affect Hispanics / Latinos
December 2, 2015 2:00 pm ET #CEWEquity #FutureReady #ReachHigher #HispanicEconomicSuccess #HispanicFuture #La9noEconomicSuccess
Center on Educa9on and the Workforce Presenters
Anthony Carnevale
Founder & Director
Nicole Smith
Chief Economist
Jennifer Landis-‐Santos Counselor
Webinar Moderator
MISSION OF HIGHER EDUCATION: To empower individuals to live fully in their Dme, free from economic or public dependency The mission of higher educaDon endures but Dmes change … and higher educaDon is changing with the Dmes.
72%
44% 41% 35%
12%
27% 27% 30%
16% 29% 32% 35%
1973 1992 2010 2020
Shar
e of
jobs
by
educ
atio
n re
quire
men
t, 19
73-2
020
(pro
ject
ed)
BA+ Some college/AA HS or less
Jobs requiring high school or less have declined from 72% of all jobs in 1973 to 41% in 2010, to become only 35% in 2020.
4
Since 1983, the US has been under-‐producing college talent: The supply of college-‐educated workers has grown by 1% each year, while demand has grown
by 3%.
College supply College demand
Baby Boom Surge
5
“New Rules” for A new economy
$973,000
$1,304,000
$1,547,000
$1,727,000
$2,268,000
$2,671,000
$3,252,000
$3,648,000
Less than HS
High school diploma
Some college
AA
BA
MA
PhD
Professional
Life9me earnings by educa9onal a_ainment (in 2009$)
Workers with BAs earn $1 million more than high school-‐educated workers over a lifeDme.
7
Rule #1: More educa9on is usually is be_er
Earnings of High School Educated
Worker Earnings of
Certificate Holder Certificate Premium Over High School
Hispanic Women $19,086 $26,911 41%
Hispanic Men $27,718 $39,914 44%
Hispanics receive the largest wage premium from certificates
Source: Survey of Income and Program ParDcipaDon
Rule #2 : In some cases less educa9on is worth more
ConDnued …
9
28% of AAs earn more than the median BA 44% of people with BA’s earn more than the average person with a graduate degree
Rule #2 : In some cases less educa9on is worth more
10
Rule #3: What you make depends on what you take
60,000
57,000
55,000
65,000
85,000
70,000
65,000
62,000
70,000
80,000
90,000
80,000
80,000
89,000
99,000
42,000
42,000
44,000
47,000
50,000
50,000
50,000
50,000
50,000
55,000
59,000
60,000
60,000
70,000
75,000
0 20,000 40,000 60,000 80,000 100,000 120,000
Psycology and Social Work
EducaDon
Arts
HumaniDes and Liberal Arts
Biology and Life Science
Law and Public Policy
Industrial Arts and Consumer Services
CommunicaDons and Journalism
Agriculture and Natural Resources
Social Science
Physical Sciences
Health
Business
Computer and MathemaDcs
Engineering MEDIAN EARNINGS BY MAJOR GROUP*
Median Earnings for those with only BA Median Earnings for those with Graduate Degree
*Full %me, full year workers with a terminal Bachelor's
Rule # 4: Where you go does ma_er
“New Rules” are especially hard on First genera9on students
• They have the least resources – make most mistakes and can take longer to figure things out compared to peers who have financial support from families
• “Culture shock” at some insDtuDons, distance from family
• Internalized stereotypes and struggles with self-‐confidence
A_ainment rates have improved drama9cally but s9ll lag na9onal averages
• High school dropout rates is sDll 14% for Hispanics (compared to 8% for African Americans and 5% for whites)
• Only 13% of Hispanics 25 years old and above have a BA or graduate degree (compared 32% of all US Americans)
Underemployment The more educaDon the less unequal the races are in
underemployment and unemployment High School BA
As educa9on rises, racial dispari9es are less visible
Underemployment rates 2008 -‐ 2015 HISPANIC RATE: 14.4% WHITE RATE: 10.4%
Underemployment rates 2008 -‐ 2015 HISPANIC RATE: 8.4% WHITE RATE: 5.2%
Interconnec9vity of various competencies (cogni9ve and non-‐cogni9ve) is required for success in the workforce.
Moving Forward
Judgment and decision making
Active Listening
Critical Thinking
Oral and written comprehension
Problem sensitivity
Help students develop 21st century skills:
Customer and personal service
Deductive reasoning
Mathematics
Monitoring
Social perceptiveness
Help students ask cri9cal ques9ons about where they go and what they study in order to avoid debt and
underemployment Please share via social media or post in public places as a community resource. Also available in Spanish
Disponible en Español
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Ques9ons and
Answers
#FutureReady #ReachHigher #HispanicEconomicSuccess #HispanicFuture #La9noEconomicSuccess
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