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Healthcare

July 2, 2012 Comments off

Healthcare
Source: Center on Education and the Workforce (Georgetown University)

In Healthcare, we provide detailed analyses and projections of healthcare fields, occupations, and their wages. In addition, we discuss the important skills and work values associated with healthcare fields and occupations. Finally, We analyze the implications of our findings for the racial, ethnic, and class diversity of the healthcare workforce in the coming decade.

Career Clusters: Forecasting Demand for High School Through College Jobs, 2008-2018

November 26, 2011 Comments off

Career Clusters: Forecasting Demand for High School Through College Jobs, 2008-2018
Source: Center on Education and the Workforce (Georgetown University)

The report entitled Career Clusters: Forecasting Demand for High School Through College Jobs, 2008-2018, identifies 16 career clusters which represent the full array of related occupational opportunities and education requirements. Findings show that for those with high school diplomas, decent jobs still exist but there are not enough to go around. Only one in three of high school-level jobs will pay wages of $35,000 or more; although in some cases, with experience, these jobs can provide up to $50,000.

High school-level jobs are found in four male dominated career clusters: manufacturing, construction, transportation, and hospitality. Of these four clusters, only jobs in manufacturing and construction still pay relatively good wages; particularly for those who obtain on-the-job-training. The study confirms that women need postsecondary education to earn the same wages as men with only a high school diploma. For instance, whereas a man can earn $35,000 with a high school diploma in the manufacturing career cluster, a woman must obtain a postsecondary credential and work in healthcare to earn as much.

In many industries the overall number of jobs will decline through 2018 but there will still be job openings available due to retirement. For example, the study finds that there will be 181,000 fewer manufacturing jobs over the decade but there will be 3 million job openings in manufacturing by 2018.

Middle-skill jobs have promise for those who acquire some level of postsecondary education or training but not a Bachelor’s degree. For women, middle-skill jobs are the minimum threshold for a better career. One in two of these middle jobs provide career pathways leading to median wages of roughly $40,000. Such jobs are concentrated in six career clusters: manufacturing, marketing, transportation, healthcare, business and hospitality. The fastest growing career clusters for middle-skills are in healthcare (21 percent) and hospitality (12 percent).

Workers with Bachelor’s and graduate degrees have the most positive outlook. Five out of six jobs available for workers with Bachelor’s pay more than $35,000 a year and average $60,000. Seventy-two percent of jobs available for workers with a Bachelor’s degree or better are found in nine occupational clusters. Yet at this education level, all career clusters are essentially accessible.

New report on Science, Technology, Engineering and Mathematics (STEM) jobs now available

October 20, 2011 Comments off

New report on Science, Technology, Engineering and Mathematics (STEM) jobs now available
Source: Center on Education and the Workforce (Georgetown University)
From press release (PDF):

A new report from the Georgetown University Center on Education and the Workforce shows that 65 percent of Bachelor’s degrees in STEM (science, engineering, technology and mathematics) occupations earn more than Master’s degrees in non-STEM occupations. Similarly, 47 percent of Bachelor’s degrees in STEM occupations earn more than PhDs in non-STEM occupations. Furthermore, even people with only STEM certificates can earn more than people with non STEM degrees; for instance certificate holders in engineering earn more than Associate’s degree-holders in business and more than Bachelor’s degree-holders in education.

STEM will grow to only 5 percent of all jobs by 2018 and demand for STEM talent is growing even faster outside of traditional STEM occupations. This increasing demand for STEM knowledge, skills and abilities allows many individuals with STEM talent to leave STEM occupations. Students and workers divert from STEM jobs because, while STEM is highpaying, STEM students have access to higher-paying career options.

The report finds that of out of every 100 students with a Bachelor’s degree, 19 graduate with a STEM degree but only eight are working in STEM occupations ten years after graduation.

But it’s not only about money—a major conclusion of the report is that STEM talent winds up outside of STEM occupations because STEM jobs often do not fully satisfy individual social and entrepreneurial interests.

The College Payoff: Education, Occupations, Lifetime Earnings

August 15, 2011 Comments off

The College Payoff: Education, Occupations, Lifetime Earnings
Source: Georgetown University Center on Education and the Workforce
From press release (PDF):

As millions of students prepare to return to college, a new study by the Georgetown University Center on Education and the Workforce confirms that the value of college degrees is increasing. Experts from Georgetown and Lumina Foundation say that postsecondary education has become the new gateway to the middle class and one of the most important economic issues of our time. According to the study, individuals with a bachelor’s degree now make 84 percent more over a lifetime than those with only a high school diploma, up from 75 percent in 1999. Today, bachelor’s degree holders can expect median lifetime earnings approaching $2.3 million. By comparison, workers with just a high school diploma average roughly $1.3 million, which translates into a little more than $15 per hour.

What’s It Worth: The Economic Value of College Majors

May 24, 2011 Comments off

What’s It Worth: The Economic Value of College Majors
Source: Center on Education and the Workforce (Georgetown University)
From press release (PDF):

On average, bachelor‟s degrees pay off. But a new study confirms that some undergraduate majors pay off a lot more than others. In fact, the difference in earnings potential between one major and another can be more than 300 percent.

Using United States Census data available for the first time, the Georgetown University Center on Education and the Workforce is helping Americans connect the dots between college majors and career earnings. In the new report, What’s it Worth? The Economic Value of College Majors, this first-time research demonstrates just how critical the choice of major is to a student‟s median earnings.

While there is a lot of variation in earnings over a lifetime, the authors find that all undergraduate majors are „worth it,‟ even taking into account the cost of college and lost earnings. However, the lifetime advantage ranges from $1,090,000 for Engineering majors to $241,000 for Education majors.

“The bottom line is that getting a degree matters, but what you take matters more,” said Anthony P. Carnevale, the Center‟s director. The new report analyzes 171 majors in 15 categories. It tracks earnings by majors and provides key break outs on questions of race/ethnicity and the gender differences in earnings.

The report finds that majors are highly segregated by race/ethnicity and gender, with few exceptions. White men are concentrated in the highest-earning majors, while women tend to be concentrated in the lowest-earning majors.

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