Workers invest in education during economic downturns, study shows

Dive Brief:

  • For every hundred workers laid off during economic recessions, researchers estimate that enrollment in two-year college programs increases by three students and completions of “career-technical programs” increase as well, according to the findings of a study published Oct. 1 in the MIT Education and Finance Policy journal.
  • The rise in enrollment accounts for half of the increase in labor force nonparticipation after widespread layoffs, the researchers said. 
  • Those who pursue education under these circumstances lean toward shorter degree programs or certificates and generally pursue programs with higher expected labor market returns, though results may vary, according to the study.

Dive Insight:

The study’s findings highlight the importance of education and retraining during this major shake up in the labor market. Moreover, organizations that invest in continuous development, or even education as an outplacement benefit, may help workers avoid lengthy terms of unemployment or at least smoothly transition

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The Tech Dilemma: unfilled jobs, few workers, lack of confidence in STEM education

As companies grow and become more valuable, they’re able to hire and invest in new products and technologies. But they need skilled workers to grow.

This is the Tech Dilemma: Too many jobs, not enough workers. Not exactly what you’d expect with the country walking a pandemic tightrope with over 8.4% unemployment (according to the Bureau of Labor Statistics).

For instance, many of the FAANGs, or five of the most prominent American tech companies – Facebook, Apple, Amazon, Netflix, Alphabet (formerly known as Google) – are collectively adding employees to handle the influx of demand attributed to eCommerce.

Amazon recently announced that they are ramping up investments in corporate and tech jobs, looking to hire 33,000 new employees with annual compensation packages at $150,000, according to CNN Business. And Netflix founder and co-chief executive officer Reed Hastings said the company has been and will keep hiring through the uncertainty of

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The Pandemic Has Pushed Hundreds of Thousands of Workers Out of Higher Education

The work-force that serves much of higher education in America has shrunk by at least 7 percent since Covid-19 arrived on American shores — a staggering, unprecedented contraction, according to federal data. And like the national economic downturn that is running parallel to this unprecedented viral outbreak, much also remains uncertain about what a “recovery” will actually look like for higher education.

An estimated 337,000 fewer workers were employed by America’s private (not-for-profit and for-profit) and state-controlled institutions of higher education in August compared to February, according to a release by the U.S. Bureau of Labor Statistics, which calculates industry-specific employee estimates each month. At no point since the bureau began keeping industry tallies in the late 1950s have colleges and universities ever shed so many employees at such an incredible rate.

James Slowiak is just one of those 337,000 workers. The former tenured theater professor at the University of

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COVID-19 showed the need for workers to update skills

The launch of Saskatchewan Polytechnic’s new School of Continuing Education comes at an important time in our province’s history.

logo, company name: Saskatchewan Polytechnic wants workers to better their skills during COVID-19.

© Provided by Leader Post
Saskatchewan Polytechnic wants workers to better their skills during COVID-19.

Nearly every person and/or business in Saskatchewan has been affected by the disruption stemming from the COVID-19 pandemic. Whether this has meant a job loss or a scramble to find qualified employees, the pandemic accelerated a trend we have been witnessing for several years.

As my colleagues at Polytechnics Canada — a national association of Canada’s leading colleges, polytechnics and institutes of technology, which I chair — recently noted in a paper to the federal government on 2021 spending priorities: “Even before the pandemic, there was a need to retrain and upskill our mid-career workforce to keep up with changing skills requirements. In the post-pandemic recovery, rapid reskilling will become critical to ensuring we have the

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Major expansion of post-18 education and training to level up and prepare workers for post-COVID economy

  • Lifetime Skills Guarantee to give adults the chance to take free college courses valued by employers
  • New entitlement to flexible loans to allow courses to be taken in segments, boosting opportunities to retrain and enhancing the nation’s technical skills
  • PM acts to boost productivity and help the country build back better from coronavirus

The Prime Minister will today set out plans to transform the training and skills system, making it fit for the 21st century economy, and helping the country build back better from coronavirus.

Adults without an A-Level or equivalent qualification will be offered a free, fully-funded college course – providing them with skills valued by employers, and the opportunity to study at a time and location that suits them.

This offer will be available from April in England, and will be paid for through the National Skills Fund. A full list of available courses will be set out

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Starbucks offers online college program to workers

NEW YORK (AP) — Starbucks is rolling out a program that would allow its workers to earn an online college degree at Arizona State University at a steeply discounted rate.

The coffee chain is partnering with the school to offer the option to 135,000 U.S. employees who work at least 20 hours a week. The Seattle-based company says it will phase out its existing tuition reimbursement program, which gave workers up to $1,000 a year for education at certain schools.

The company says the program doesn’t require workers to stay at Starbucks after they earn their degrees. They can also pick from a wide range of educational programs that aren’t related to their Starbucks work.

Starbucks CEO Howard Schultz is scheduled to announce the program Monday in New York City, with U.S. Education Secretary Arne Duncan and about 340 workers and their family members in attendance.

It’s not clear how

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Technical education is needed to create tomorrow’s essential workers and leaders | Opinion

By Todd Bonsall

Each generation strives to make its mark. As an educator, I am especially encouraged by the passion and determination of today’s youth to be part of something greater than themselves. This drive was magnified as the pandemic unfolded over the spring semester. Our students at Hunterdon County Vocational School District (HCVSD) not only impressed me through efforts to collect PPE and to make “thank you” bags for frontline workers but through conversations with staff and each other about leveraging their education to make a more sustainable, lasting impact on our nation and beyond. This should encourage all of us about the future.

These bright, motivated young people seek educational experiences that enable them to connect with similarly minded peers while offering opportunities to make a difference through research, health care, education, public service and more. They are looking for pathways to bring about great change and the

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PM Modi Asks BJP Workers to Educate Farmers on ‘Intricacies of New Farm Reforms’ & ‘Save Them From Rumours’

Narendra Modi wearing a suit and tie: PM Narendra Modi (file photo)

© Shubhangi Gupta | News Desk
PM Narendra Modi (file photo)

New Delhi: Prime Minister Narendra Modi, in an interaction with BJP workers on Friday, said that all the karyakartas should reach out to farmers and educate them on the importance of the farm bills passed by Parliament recently. He asserted that “propaganda” must be busted, targeting the opposition for “spreading rumors” on agriculture-related bills. “All BJP karyakartas should reach out to the farmers on the ground and inform them in very simplified language about the importance and intricacies of the new farm reforms… how these will empower them. Our ground connect will bust the propaganda being spread in the virtual world,” news channel NDTV quoted PM Modi as saying in a virtual address to BJP workers. “They are spreading rumours. Saving farmers from such rumours and explaining the importance of the agriculture reforms is the responsibility and duty
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U.S. job openings push higher; more workers quitting

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. job openings increased further in July, though more workers quit their jobs in the retail as well as professional and business services industries likely because of fears of exposure to COVID-19 and problems with childcare.

Despite the surge in vacancies reported by the Labor Department on Wednesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS, the number of unemployed people competing for a new job remained relatively high in July.

“The labor market recovery will be measured in years, not months,” said Chris Rupkey, chief economist at MUFG in New York.

Job openings, a measure of labor demand, jumped 617,000 to 6.6 million on the last day of July. Still, vacancies remain below their level of 7 million in February.

Job openings were led by the retail sector, with 172,000 new vacancies. There were an additional 146,000 jobs in healthcare

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