A new study by the Milken Institute found a strong relationship between a well-educated population and a region’s economic performance.1 Though it’s common knowledge that well-educated workers often make more money and have better jobs than less-educated workers, this study stands out in that it also found that just by their geographic location, less-educated people can make more money if they live in the same area as more-educated people.
Other key findings from the report include:
Education increases regional prosperity. Adding one year to the average years of schooling among the employed in a metropolitan area is associated with an increase of real GDP per capita of more than ten percent, and an increase in real wages per worker of more than eight percent.
Better educated = bigger benefits. The better educated the worker, the greater the benefit of additional schooling, to both the worker and the region. Add one year of college to a region’s workforce, for instance, and GDP per capita jumps 17.4 percent.
Clusters count. In metros with clusters of high-skilled occupations, the share of workers holding at least a master’s degree is much higher than in metros without significant clusters, perhaps because of the intense competition for employment.
Students’ lack of college and career preparation takes on many forms beyond academic deficits.
It shows up with them not knowing what to expect from college, not knowing how to anticipate challenges and obstacles, and not having the grit and determination to succeed. It shows up with their lack of follow through skills, and their not knowing how to take advantage of resources to craft a college experience that will deliver the abilities and connections to launch a successful career. Read the rest of this entry »
Over the next 10 years, more boomers will leave the workforce and need new skilled workers to take their place. Not only will the next generation of workers inherit careers over the next decade, the BLS predicts there will be more growth in jobs that require an associate’s degree, while jobs that require long-term on-the-job training will diminish.
When employees don’t feel like their abilities are being used to their full potential, work is “frustrating” and “exhausting,” according to a study that asked subordinates to rate the percentage of their intelligence they felt their higher-ups were tapping into. These questions lead to researchers defining two types of leaders in the workplace: Read the rest of this entry »
The Class of 2012 has reason to celebrate. They’re among the 56% of college students who stuck it out and finished a college degree in under 6 years,1 they found their calling, and they are prepared to make an impact on the world. However, with rising student debt, a volatile job market, and an overall uncertain economic future, many students may also be leaving with anxiety about entering the workforce. Read the rest of this entry »
The world of work is changing, and whether it scares or excites you, one thing is for certain: you shouldn’t be surprised if your job doesn’t exist in two decades. Many people are fearful of the changing workforce because it means uncertainty, foreign technology, and possible unemployment. However, the recent Fast Company article “The Career of the Future Doesn’t Include A 20-Year Plan. It’s More Like Four,” shows change can be positive, and something you should expect more of in your career.