|By Business Wire||
|December 5, 2013 10:20 AM EST||
Private sector schools were responsible for awarding 23 percent of all the degrees and certifications required to earn jobs in IP-intensive industries in 2012. Three-quarters of these jobs are in STEM fields: technologists, technicians, and production workers that support scientists, engineers, and managers who research, develop, and manufacture innovative products and services. This data is in a new report released today by the Association of Private Sector Colleges and Universities (APSCU).
The report is authored by Nam D. Pham, Ph.D. Partner, ndp/analytics who will present its findings at the APSCU Inaugural Workforce Symposium on December 9-10 in Washington, DC, where stakeholders from business, government, academia and NGO’s will convene to address the skills gap in America’s future workforce.
The U.S. currently accounts for more than one-third of global research and development (R&D), most of which is contributed by private companies. In 2011, private R&D contributed to more than 1.4 million STEM related jobs. Empirical studies have shown that innovation — the process of turning an idea into a final product or service — is a key driver of economic expansion in both developed and developing countries, accounting for 80 percent of U.S. economic growth.
Other key findings in the report document trends in enrollment at PSCUs, such as:
- The number of institutions, student enrollment, and degrees conferred by private sector schools has grown exponentially over the past decades in response to higher demand for the skills needed to enter the 21st century labor market or career advancement. About 13 percent of postsecondary enrollment is in private sector schools, which in 2012 conferred 32.5 percent of all postsecondary credentials and associate’s degrees, 7.4 percent of all bachelor’s degrees, and 9.5 percent of master’s or other advanced degrees.
- Evidence shows a highly positive correlation between education, employment and earnings. In 2012, when the national unemployment rate reached a high of 8.1 percent, the unemployment rates for those without a high school diploma and those with one were 12.4 percent and 8.3 percent, respectively.
- For those with some college and an associate’s degree, the unemployment rates were 7.7 percent and 6.2 percent, respectively. The unemployment rates were lower for those people who had earned a bachelor’s degree (4.5 percent), a master’s degree (3.5 percent), and a doctor’s degree (2.5 percent).
The full report can be found on APSCU’s website.
APSCU’s Workforce Symposium will take place at the Hyatt Regency Washington on Capitol Hill, December 9-10, 2013. Symposium speakers include:
- Eric Spiegel, President and CEO, Siemens Corporation
- The Honorable John Kline (R-MN), Chairman, House Education and Workforce Committee
- The Honorable Rob Andrews (D-NJ), House Education and Workforce Committee
- Andy Stern, President Emeritus, Service Employees International Union
- Matthew Sigelman, President and CEO, Burning Glass Technologies
For more information or to register to attend, visit: http://www.career.org/events/apscu-events/workforce2013.cfm
Private sector colleges and universities provide skills-based education opportunities to nontraditional students, particularly veterans, working mothers, and parents, to help them open doors and secure employment in today's workforce. APSCU members provide students who take different paths to higher education with opportunities unavailable to them at traditional colleges. Private sector colleges and universities provide enable more than four million students annually to compete for jobs in high-demand occupations. Private sector colleges and universities provide skills-based programs specifically designed to open doors for the nearly 13 million unemployed and 90 million undereducated individuals in the United States. PSCUs are a significant contributor to the U.S. tax base paying about $1.7 billion in 2010.
Note to editors: Interview opportunity with Dr. Nam D. Pham, Managing Partner, ndp/analytics author of the report and Steve Gunderson, President and CEO, APSCU, who can address its implications on America’s competitiveness.