Transcript Projections for 2020

Recovery:
Job Growth
and Education
Requirements
Through 2020
Educational
demand for
employment
has grown;
we expect
that trend to
continue.
The US Economy Is Expected
To Create 55 Million Job Openings
By 2020
• 24 million of these jobs
(43%) will be entirely new
positions.
• 31 million (56%) will be
due to baby boom
retirement.
Who Will Be Hiring?
 STEM (Science, Technology,
Engineering and Math)
 Healthcare Professions
 Healthcare Support
 Community Services
Healthcare, Community Services & STEM
Are The Three Fastest Growing
Occupational Clusters
By 2020, 65 Percent of
All Jobs Will Require
Postsecondary Education
 For most jobs, securing a high school education will not
be enough to qualify for employment
 Applicants will need to have some form of post-
secondary education:

Bachelor’s Degree or beyond

Some college/AA degree

Postsecondary Vocational certificate or industry-based
certification
There Will Be
Fewer Jobs
Available For
Individuals
That Only
Possess a
High School
Diploma
Even The Fastest Growing Fields Will
Require High Postsecondary Education
 STEM, healthcare professions, healthcare support,
and community services will all require high levels of
education in order to compete for a position.
 Healthcare support will not have the same high
demand for postsecondary education.

Healthcare support careers, however, will have lower wage
growth.
The Fastest
Growing
Occupations
Require High
Levels of
Postsecondary
Education
What Skills Will Get You Hired?
 Recovery 2020 confirms cognitive skills are
highly sought after by employers.
 Physically intensive skills are less important.
 Forty-eight percent of jobs require high levels of
active listening.
 Other skills most coveted by employers:
Leadership
 Communication
 Analytics
 Administration

Intensity of
Skills Use
Across
Careers
Recovery 2020 By State
 The report also gauges each state’s position compared to the
national average;
 Compares the educational composition of jobs in the base year
(2010) to the forecast year (2020);
 Shows where the jobs will be by state, education level and
occupations for 25 detailed occupational categories in 2020;
 Twenty-seven states will be at or above the 65 percent proportion of
jobs that will require postsecondary education beyond HS in 2020.
 The highest proportion of BA jobs and graduate jobs will be
concentrated in northeastern states.
 Jobs for HS graduates or dropouts will be concentrated in the
southern states.
Almost all states currently have average attainment
levels below those required for the jobs of the future
What states need to know
Use data to influence outcomes
We have slowed down in our production of college grads
 American will produce less than half of the growth in college
graduates than it did 20 years ago – despite the growth in
population.
 About 50 percent of the variance in inequality in lifetime
earnings is determined by age 18.
Knowledge is power
 UI wage records, SLDS, LEHD, BLS, Georgetown CEW
 Real time data.

Proprietary data
Burning glass
 Resume data – Monster, Career Builder

 Determine program effectiveness at securing
employment

Might involve hard decisions of closing programs with low returns
 Improve alignment between student choices and high-
wage, high-demand jobs
RECOVERY 2020 in Summary
 Most jobs will require applicants to have postsecondary




education and training beyond high school.
More jobs will be available as baby boomers begin to retire.
The fastest growing fields will be in STEM, healthcare
professions, healthcare support, and community services.
Employers will be looking for cognitive skills such as active
listening, ability to communicate well, and critical thinking.
Despite the existing variation between states’ educational
attainment, nearly all states will need to boost their rates of
postsecondary education
Georgetown University
Center on Education and the Workforce
Full Report, Executive Summary and State Analysis Available:
http://cew.georgetown.edu/recovery2020/
Questions?
[email protected]