The Great Recession led to record high unemployment …so far peaking at 10.1% Bachelor recipients fared better than the population. …so far peaking at 5.1% …compared to 15.7% of high school dropouts
Bachelor’s recipients earn $1,038 per week compared to $646 for those only with a high school degree. Nationally, the average earnings per week was $782 in 2010. There is a clear relationship between education and earnings. National Income $0 $500 $1,000 $1,500 $2,000 Doctoral degree Professional degree Master's degree Bachelor's degree Associate degree Some college, no degree High-school graduate Less than a high school diploma
Iowa’s Domestic Product only fell 0.2% …but unemployment grew 2%. Iowa’s 5.7% unemployment is relatively low …but some counties have been hit harder …education is still a key difference.
Iowa Unemployment Rate 0% 1% 2% 3% 4% 5% 6% 7% Less than a high school diploma High-school graduate Some college or Associate's Degree Bachelor's Degree or Higher
Sometimes workers can become frustrated and “exit the labor market” by stopping their job search. The “employment rate” accounts for this by calculating the percentage of people who are employed, regardless of their labor market status. Iowa Employment Ratio 0% 20% 40% 60% 80% 100% Less than a high school diploma High-school graduate Some college or Associate's Degree Bachelor's Degree or Higher
Largest Occupational Decline Farmers and Ranchers Postal Service Mail Sorters, Processors & Processing Mach Operators Order Clerks Telemarketers File Clerks Cutting, Punching & Press Machine Setters, Operators &Tenders Shipping, Receiving, and Traffic Clerks Metal Workers and Plastic Workers, All Other Office and Administrative Support Workers, All Other Conveyor Operators and Tenders
Largest Occupational Decline Farmers and Ranchers Postal Service Mail Sorters, Processors & Processing Mach Operators Order Clerks Telemarketers File Clerks Cutting, Punching & Press Machine Setters, Operators &Tenders Shipping, Receiving, and Traffic Clerks Metal Workers and Plastic Workers, All Other Office and Administrative Support Workers, All Other Conveyor Operators and Tenders
Career-focused adult literacy programs such as I-BEST and Adult Literacy for the Workforce in Iowa can provide better prospects for students and employers. Career-focused degrees at Iowa’s community colleges provide a substantial rate of return for individuals. There is opportunity for job growth for those with moderate career training.
Median Wages Leavers at first make earn more money as completers finish school. However, upon graduation, completers begin to earn more by 2004—two years after graduation. By 2008, completers’ median wages were $29,592. $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 2002 2003 2004 2005 2006 2007 2008
Career-focused adult literacy programs, such as Washington’s I-BEST program shows positive student outcomes. Participants increase their probability of obtaining college credits by 10 percentage points and 8 percentage points for earning a certificate. Career-focused Adult Literacy 0% 2% 4% 6% 8% 10% 12% College Credits Earning Certificate
There is a clear link between educational attainment and economic growth. Career-focused adult literacy programs offer an opportunity for advancement. Yet, there is a challenge to deliver these services given the reduction in resources.
Authors Tom SCHENK JR. Iowa Department of Education (515) 281-3753 [email protected] Kiyokazu MATSUYAMA Iowa Workforce Development (515) 281-8118 [email protected] Jason CROWLEY Iowa Workforce Development (515) 281-7124 [email protected] Sources Adult Literacy Report 2011, Iowa Department of Education. Economic Returns & Career Transitions for Iowa Community College Students, Iowa Department of Education and Iowa Workforce Development U.S Census Bureau, 2007-2009 American Community Survey Bureau of Labor Statistics, Current Population Survey Iowa Works Membership Database, Iowa Workforce Development. Additional Information Iowa Workforce Information Network: iwin.iwd.state.ia.us U.S. Census Bureau, Education Pays…, www.bls.gov/emp/ep_chart_001.html
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