Washington DC February 5, 2016 - A newly released research paper warns that employers and policymakers are in danger of ignoring the potential of today’s adult workers to meet near and mid- term skill shortages in the workplace. The paper, by Garrison Moore and Robert Bowman, speaks to employers, educators, policy makers, and the general public. A rigorously researched document, it includes more than 30 charts and graphs clearly illustrating for a lay audience the sometimes-arcane world of labor market statistics. Among the findings:
1. Most of the future US workforce is already on the job and will be despite the retirement of the baby boom generation - 84 percent of people working today will still on the job 10 years from now and two thirds will still be there in 2035.
2. Conversely, the research shows that young people entering the workforce make up a very small part of the workforce – less than two percent a year.
3. Declining workforce participation has its roots in young people staying in high school and going on to college rather than adults dropping out or retiring early.
4. The nature of work is changing almost beyond recognition. Occupations largely involving routine tasks have fallen by an estimated six million jobs in the past five years while occupations requiring more knowledge, skills, and flexibility have continued healthy growth little affected by the worst recession in 70 years.
5. The education and training of today’s workforce is largely catch as catch can for working adults. Today’s education and training infrastructure is uncoordinated and places many hurdles for working adult learning and employer involvement.
6. The authors suggest that the most effective way to raise the skills of working adults is through an employer-centered active workforce policy (rather than just adding more uncoordinated programs). Employers and employer organizations teaming up community colleges offer a good place to start developing such a system in many communities.
The complete report can be downloaded here: DOWNLOAD THE PDF OF THE REPORT
Illinois Science & Technology Coalition Announces Expansion and Outcomes of Corporate-Startup Challenge
Today, the Illinois Science & Technology Coalition (ISTC), a not-for-profit organization focused on growing the state’s innovation economy, is announcing the fourth class of corporate participants in its Corporate-Startup Challenge, an award-winning matchmaking program that connects global corporations with startups and emerging technology firms across the state. This group includes Illinois-based Fortune 500 companies Allstate Corporation (participating in the program for a second time), Caterpillar Inc. and Grainger.
Canada is set to announce a new program that would enable some prospective immigrants to acquire residency visas by investing at least 1 million Canadian dollars ($890,000) in a venture-capital fund, a scheme some other western countries have used to attract wealthy, mainly Chinese, newcomers.
Image: Free Digital Photos
As Submitted by Richard A. Bendis, President, Innovation America and Vice Chair NASVF
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Rich Bendis President, Innovation America spoke about how innovation will change small business.