Here’s the catch, included in the projected 930,000 jobs available in the state of Indiana (due to job growth and vacancies), 55% of them will require a college degree. With productivity growth means a need for increase knowledge and skills in the ever advancing technology involved. At this point, we simply do not have a workforce with the required skills to fill these positions. Isn’t that worrisome?
Congressman Joe Donnelly was interviewed by Inside Indiana Business with that huge headline that ‘$20/hour paying jobs are going unfilled‘. I was reminded of a presentation I attended in January where Jamie Merisotis, President of the Lumina Foundation, gave us some insight:
Today in the US, 63% of High School students enroll in college. One Third of them actually obtain a degree. If you want to compare this to other nations: Korea 58% of 25-34 year olds hold a degree, Japan 55%, Ireland 45%.
Other Indiana Stats:
– 33% of the state’s 3.4 million adults holds at least a 2-yr degree. National Average, 38% — still a little scary if you ask me.
– The state projects a college attainment rate of 44% in 2025.
Ideas looking forward:
Colleges and Corporations Must Work Together
Professors and Corporate leaders need to work hand in hand to determine what our students should be learning to be ready to enter the workforce.
Donnelly had commented that we need to make sure that we provide our students with the skills manufacturer’s are seeking and enable innovation through incentives. I would be curious to see the big plan on how best to position Indiana as the ‘Manufacturing Economy of the Future.’ Sounds very progressive.
Prospects : Increasing Human Capital
730,000 people in Indiana have attended college, but have not completed their degree.
It costs $48 to find and re-enroll each person.
Tuition Reimbursement programs are in place to encourage corporate support in investing in their workforce. Challenges in the global marketplace require that skills and training be constantly upgraded. Can we keep up?
Supporting innovation, increases job growth which in turn generates more money in our economy.
You can view Jamie Merisotis, Lumina Foundation presentation here.
Most of the statistics in this article came from the Lumina Foundation website, with so much more information available if you are so inclined: http://www.luminafoundation.org/