Understanding the Economics of Education

Did you know that 756,384 working-age adults in Illinois currently lack a high school credential? This statistic isn't just a number—it's a call to action for us all during Advocacy April. Why? Because every individual empowered with education is a step toward a stronger, more resilient economy and a healthier, happier family life. Here’s how: 👨👩👧👦 Family Impact: Adults obtaining their high school credentials set a powerful example for their children, fostering a culture of learning and ambition. Education within the family can break the cycle of poverty and inspire the next generation. 💼 Economic Benefits: Educated workers are the backbone of our economy. They earn significantly more than those without a high school diploma, contributing to higher tax revenues and lower reliance on public assistance programs. This means more resources for community development, better services, and a stronger economy for Illinois. 🚀 Workforce Development: With a high school credential, individuals gain access to further education and training opportunities, filling skill gaps in our economy. This alignment between education and workforce needs is crucial for Illinois' competitiveness in a rapidly evolving job market. 💡 Innovation and Community Engagement: Educated individuals are more likely to engage in civic activities, volunteer, and contribute to societal innovation. Their diverse experiences and insights are invaluable to creating vibrant, inclusive communities. Let's advocate for and invest in adult basic education. It's an investment in our people, our economy, and our future. Together, we can transform this statistic into a story of success and empowerment for Illinois. #AdvocacyApril #AdultEducation #EconomicGrowth #FamilyEmpowerment #WorkforceDevelopment Coalition on Adult Basic Education Erin Vobornik

America has 500,000 unfilled manufacturing jobs right now, and 65% of manufacturers say talent acquisition is their #1 business challenge. The talent gap could grow to 2.1 million workers by 2030, threatening $1 trillion in economic output. Today at People Atom, we analyzed why a sector that both political parties are desperate to revitalize can't find workers—and what it means for the future of work. The manufacturing workforce challenge goes deeper than just numbers: → Skills mismatch: Only 0.3% of American workers have apprenticeship training compared to 3.6% in Switzerland—12x higher → Role evolution: Only 40% of manufacturing jobs involve directly making products. The other 60% require technical expertise in robotics, electrical systems, and digital controls → Education paradox: Half of open manufacturing positions now require a bachelor's degree, yet many employers simultaneously struggle to fill roles that don't need degrees → Perception problem: Despite modern manufacturing facilities being clean, bright and technology-driven, outdated perceptions of dirty, dangerous work persist The FAME apprenticeship program shows what's possible: participants earn nearly $98,000 five years after completion—$45,000 more annually than non-participants. But these solutions haven't scaled nationally. Future-Ready Workforce Strategies ↳ Rethink degree requirements: Screen for competence and character over credentials. Does that job posting really need "bachelor's required"? ↳ Create regional talent ecosystems: Build partnerships between employers, community colleges, and workforce agencies to create shared talent pipelines ↳ Invest in pre-employment skill-building: Design programs that help candidates transition from service roles to technical operations with targeted training ↳ Reimagine employer branding: Today's manufacturing jobs need to be marketed to emphasize technology, growth potential, and stability This scenario isn't unique to manufacturing. Every sector undergoing rapid technological transformation faces similar challenges—from healthcare to retail to logistics. Love the future of work, Joe PS:  For deeper insights and implementation support, Get Your Invitation to PeopleAtom. The private network for CEOs, CHROs, CIOs, CTOs, and People Leaders shaping the future of work through bold strategy, systems thinking, and intelligent tech. Not everyone gets in, just the ones building what's next.

More and more, it feels like HR is being asked to solve workforce issues that begin long before someone ever applies for a job.   I’m seeing this show up more often in conversations with Illinois HR leaders, especially around hard-to-fill roles, changing skill needs, and pressure to do more with the talent that is available. SHRM's whitepaper, 𝐅𝐫𝐨𝐦 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐄𝐦𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭: 𝐇𝐑 𝐚𝐭 𝐭𝐡𝐞 𝐇𝐞𝐥𝐦, reinforces something many of us in HR are already feeling. It's more than a hiring challenge; it's a talent pipeline challenge.   SHRM describes the education-to-employment pipeline as “broken, leaky, and busted,” and the data supports it: • 75% of organizations struggled to fill full-time roles • 28% said the roles they were hiring for required new skills • 52% of graduates are underemployed one year after graduation In Illinois, there are roughly 318,000 job openings and only about 292,000 job seekers. That is why I believe HR leaders in Illinois need to stay close to both the workforce conversation and the policy conversation.   Proposed bills in Illinois like SB 2963, SB 1691, and SB 3070 are worth watching because they support practical solutions like employer-funded education, pre-apprenticeship access, and stronger career-connected learning pathways.   From my perspective, the education system can move slowly, and employers can't keep waiting for them to solve the workforce readiness challenge on their own. HR has to help define what readiness looks like and where stronger pathways need to exist. HR should be "in the room" to help define the skills that matter, support work-based learning, and advocate for policies that create expanded pathways from education-to-employment.   For HR teams, that may mean getting more involved in workforce partnerships, internships, apprenticeships, or skills-first hiring conversations rather than treating recruiting as the only method.   This is an area where HR can do more than react. We can help shape the solution.   I’m including the whitepaper here for anyone who wants to dig in, because it does a great job framing both the challenge and the opportunity for HR leaders.    #IllinoisHR #SHRM #WorkforceDevelopment #TalentStrategy #SkillsBasedHiring #Apprenticeships #PolicyNotPolitics #ILSHRM #E2 #educationtoemployment #legislation

In today's rapidly evolving job market, advanced degrees like MBAs and Ph.D.s, once considered gateways to secure employment, are no longer guarantees of job security. Recent data indicates that professionals with higher education are experiencing longer periods of unemployment compared to their less-educated peers. Several factors contribute to this trend: -> Remote Work and Global Talent Pool: The rise of remote work has enabled companies to source skilled labor from around the world, often at lower costs, reducing domestic opportunities for advanced-degree holders. -> Shift to Skills-Based Hiring: Employers are increasingly prioritizing specific skills over formal credentials, leading to a diminished advantage for those with advanced degrees. -> Advancements in Artificial Intelligence: AI technologies are automating tasks traditionally performed by highly educated professionals, particularly in white-collar sectors, leading to job displacement. This paradigm shift underscores the importance of continuous skill development and adaptability. Professionals must proactively update their skill sets to align with current market demands. Simultaneously, employers should recognize the value of experience and invest in reskilling initiatives to harness the full potential of their workforce. As we navigate this changing landscape, a collaborative effort between individuals and organizations is essential to redefine career pathways and ensure economic resilience. https://lnkd.in/eCrENmce

“But the graduates who will truly thrive in the next decade of work aren’t just the most technically fluent. They’re the ones who can read a room, weigh trade-offs, and disagree productively. They can discern and bend rules when justice asks more than compliance, and they know when to choose courage over convenience.” Michelle Weise, PhD captures something important about the future of employability. Technical skills will continue to change as technologies evolve and work is redesigned. The people who remain valuable will those with the judgment and character to navigate uncertainty, work with others, and make difficult decisions. Preparing people for that future requires more than teaching tools or predicting the next job. It requires thinking seriously about how work might change and ensuring people develop capabilities that remain valuable across multiple possible futures. Higher education has an important role in laying the foundation for these qualities. Employers must then continue to develop them through meaningful work, mentorship, and opportunities to exercise judgment. Because the future of work will keep changing, employability will depend on the qualities that help people navigate and shape that change. #FutureOfEmployability #FutureOfWork #DurableSkills #Leadership #HigherEducation https://lnkd.in/egcEFDYA

What does a "well-educated" population look like? This fascinating chart from Visual Capitalist, using OECD data, breaks down educational attainment for adults (25-64) across 45 countries, and the results reveal starkly different national strategies. Key Takeaways: * The Rise of Tertiary Education: Canada leads the pack, with an impressive 64.7% of its adults holding a college or university degree. Ireland (57.5%), South Korea (56.2%), and the UK (53.8%) follow, all surpassing the 50% mark. This clearly signals a strong investment in a knowledge-based economy. * University Isn't the Only Path: This is the most crucial insight. Don't just look at the top of the list. Notice countries like Germany and Czechia. * Germany (36.3% college) and Czechia (27.8% college) are global economic powerhouses, yet they rank in the middle for university degrees. * Their strength lies elsewhere: 49.9% of German and a massive 66.8% of Czech adults hold a "High-school or diploma." This reflects world-renowned dual-vocational training and apprenticeship systems that produce an incredibly high-skilled technical workforce. * The Foundational Challenge: The data also highlights a critical development hurdle. In several countries, a large portion of the population has not completed high school (e.g., Mexico at 54.4%, South Africa at 49.3%). This represents a significant barrier to economic mobility and national development. The Big Picture: This visual is a powerful reminder that there is no single "correct" model for workforce development. The "best" system is a mix that aligns with a country's economic structure—whether it's driven by tertiary-educated knowledge workers, high-skilled vocational specialists, or a balance of both. The real question is how to equip a population for the future. What does this data make you think about our own national education and skills strategy? Are we striking the right balance between university education and advanced vocational training? #Education #WorkforceDevelopment #SkillsGap #HumanCapital #Economics #DataVisualization #GlobalTrends #OECD #FutureOfWork

Like many, I’ve been making my way through Jamie Dimon’s annual shareholder letter this week. It’s always rich with insight, but this year, one section felt less like analysis and more like a call to action—capturing what so many of us already know: if we’re serious about economic mobility, we have to reimagine how our education and workforce systems deliver opportunity. A few points that stood out in his letter: - K-12 outcomes are not aligned with today’s economy. Despite nearly $1 trillion in annual K-12 spending, too many students are graduating without the skills—or the opportunity—to secure good jobs. - There are models that work. Aviation High School in Queens combines academic rigor with hands-on technical training. Graduates enter the workforce earning ~$80K/year in critical industries. It's not just a school—it's a blueprint. - We need scalable, stackable pathways. Short-term credentialing, apprenticeships, and earn-and-learn programs can (and should) count toward degrees and meaningful careers. - Early childhood education is economic infrastructure. Universal pre-K and high-quality childcare aren’t just good policy—they drive parent workforce participation and long-term outcomes for kids. - Financial and health literacy matter. Building economic resilience starts with early, accessible education in personal finance and well-being. None of this requires more spending—it requires smarter alignment of what we already invest with the outcomes our communities actually need. If we want inclusive growth, we have to invest in the infrastructure that enables it. Education and workforce systems are not separate from our economy—they are our economy. #WorkforceDevelopment #EducationReform #EconomicOpportunity #SkillsBasedHiring https://lnkd.in/gFuz-9WM

Polytechnic Universities and Institutes of Technology have a tremendous history of success in not just integrating rigorous academic curricula with the applied knowledge and skills needed for success in the workplace, but also for developing and catalyzing critical thinking skills and innovation through the emphasis on modalities of discovery, enquiry, and “learn by doing. While desired, an increase in the number of such institutions, as well as the number of students/learners served, has been limited by logistical, functional, and resource issues as well as those of constraints of geographic location. However, advances in digital and immersive technologies, in conjunction with AI, have perhaps provided now an opportunity to revisit and re-envision the use of these extraordinarily successful models at scale, through advances that make three critical aspects of (a) experiential learning, (b) personalized engagement, and (c) competency-based learning and qualification, more effective to implement, while enhancing the ability of institutions to better assure the integration of development of advanced technical skills, real time communication and decision-making skills, and critical aspects including social context, ethics, and responsibility with learning through virtual immersion rather than through abstract constructs. In addition, this level of personalized engagement furthers the ability to meld and match different experts, and levels of expertise, into a student’s learning journey opening avenues heretofore unimaginable in the integration of advanced academic knowledge and workforce skills. While these models have traditionally been expert- and resource-intensive, constraining their use at scale, the incorporation of technological platforms and tools can alleviate these constraints, enabling the focus to be of individual competency rather than an assembly line “one size fits all” basis for education. We have the opportunity of re-imagining education, writ large, as an immersive, personalized, and dynamic system, fostering critical thinking, true inter-/multi-disciplinary learning, and integration of advanced academic knowledge with the skills necessary for success in a rapidly changing technological and information-intensive workplace. The question is whether we, in higher ed, are willing to make the changes that will pave the way for a future where technology empowers student learning, fostering experiences that are critical to their success, preparing graduates to thrive in a rapidly converging world, or if we will allow ourselves to lose relevance and leadership. #AIinEducation #Innovation #FutureOfLearning #polytechnic #Immersion #scale #workplace #HigherEd

Community colleges changed the game for millions of people. And guess what — they're about to have to change it again. 🤪 Dr. Muddassir Siddiqi, President of College of DuPage, just laid it out plainly in Community College Daily: the old vendor model — where employers say "train them for this," and colleges do it — is no longer enough. Not in a labor market where the half-life of a professional skill is now just four years, and entry-level job postings have fallen 45% below the five-year average. That's not a dip. That's a shift. So what's the new mission? Here are 4 powerful strategies being put forward for community colleges to lead — not just respond — in this new economy: 1️⃣ Build new career on-ramps — internships, apprenticeships, micro-internships, and earn-while-you-learn models that make learning visible to employers 2️⃣ Move from transactions to partnerships — co-designing curricula with industry so training evolves with the economy, not behind it 3️⃣ Fuel entrepreneurial ecosystems — supporting startups, founders, and small business owners, especially those who've been historically left out of those networks 4️⃣ Lead technology diffusion — giving regional businesses a safe space to adopt and experiment with new tools before they fall behind This is workforce development work. This is L&D work. And honestly? This is Kingdom work — equipping people with what they need to thrive, not just survive. If you work in higher ed, workforce development, or community learning, this conversation is for you. Here's to growth and learning. 🌱 https://lnkd.in/g_e2FfKh

What I find particularly important in the research made by Dr. Portia Heynes and 𝐊𝐡𝐫𝐢𝐬𝐧𝐚 𝐊. 𝐆𝐨𝐯𝐞𝐧𝐝𝐞𝐫 is the shift from seeing vocational education as a training intervention to recognising it as an economic system. In many countries, TVET is still treated as a social programme designed to reduce unemployment. The evidence increasingly suggests that this framing is incomplete. When designed properly, vocational capability becomes infrastructure for national productivity in the same way that energy grids, logistics corridors, or digital networks support economic activity. The critical question therefore is not only how many people we train, but how the system connects three elements that are too often fragmented: labour market signals, workplace discipline, and credible certification. Training centres can supply skills, but productivity is ultimately shaped inside operating environments where standards are practiced daily through supervision, safety culture, service discipline, and accountability. Without that link to real workplaces, many vocational programmes struggle to convert learning into sustained economic value. Equally important is the credibility of certification. In a globalised economy, mobility of skills increasingly matters. Qualifications that align with internationally recognised frameworks do more than validate competency; they create confidence for employers, investors, and industries operating across borders. Another dimension that deserves attention is character formation. Technical ability alone rarely determines long-term workforce performance. Work ethic, reliability, safety awareness, and customer orientation often determine whether capability compounds or stagnates. These traits are rarely taught effectively in classrooms; they emerge through structured workplace experience and mentorship. This is why employer participation is foundational. Industry-managed vocational pathways provide the environment where training, behavioural development, and productivity standards can converge. There is also a broader structural implication. As economies move toward greener infrastructure, digital operations, and higher service standards, the demand for technicians, supervisors, and operational specialists will grow faster than many traditional academic pathways can supply. Vocational systems therefore become the bridge between technological ambition and operational reality. What this research points toward is the need to think about TVET not as a collection of programmes, but as an ecosystem. Governments provide policy direction and training infrastructure. Educational institutions develop knowledge and frameworks. Industry converts capability into productivity and progression. When these elements align, vocational pathways cease to be perceived as secondary options. They become engines of upward mobility, economic resilience, & institutional trust. Jonathan Ledger | Shungu Chirunda | Dennis Zietsman | Rasoava