Labor Market Trends in the Pioneer Valley Region By Robert Clifford - - PowerPoint PPT Presentation

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Labor Market Trends in the Pioneer Valley Region By Robert Clifford - - PowerPoint PPT Presentation

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Labor Market Trends in the Pioneer Valley Region By Robert Clifford Policy Analyst New England Public Policy Center Federal Reserve Bank of Boston A joint project of Commonwealth Corporation and New England Public Policy Center of the Federal

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By Robert Clifford

Policy Analyst New England Public Policy Center Federal Reserve Bank of Boston A joint project of Commonwealth Corporation and New England Public Policy Center of the Federal Reserve Bank of Boston

Labor Market Trends in the Pioneer Valley Region

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

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Motivation

  • Promote better public policy by conducting objective

research and analysis of regional economic/policy issues.

  • Understand the long-term labor force challenges facing

the regional labor markets in Massachusetts.

  • Provide detailed data on labor supply and demand

trends to support workforce development policy discussions at a local level.

  • Build off the labor market work of Harrington and Fogg

(2008) and the demographics research of Sasser Modestino (2009, 2010).

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 2

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The Pioneer Valley Region

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 3

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Summary

  • After nearly a decade of declining employment, Pioneer

Valley is recovering at a modest pace, but continues to have

  • ne of the highest unemployment rates statewide.
  • An aging workforce, declines in younger workers, and a

stagnant population will force the region to confront demographic challenges sooner than other regions.

  • Despite gains in the educational attainment of its labor force

in the past decade, Pioneer Valley still has the highest share

  • f individuals with only a High School Degree or less.
  • Addressing the barriers to employment facing the region’s

unemployed, particularly among the young and less educated, is key to the economic vitality of the region.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 4

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Outline

  • Labor Market Performance
  • Labor Supply
  • Labor Demand
  • The Pipeline: Educational Supply of

Post-Secondary Degrees

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 5

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Labor Market Performance

  • National and State Employment Trends
  • Performance of Regional Labor Markets
  • Employment Trends by Industry in

Pioneer Valley and Massachusetts

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 6

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Massachusetts is still far below its peak employment levels

  • f the early 2000’s.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

0.94 0.96 0.98 1.00 1.02 1.04 1.06 Q1-2000 Q1-2001 Q1-2002 Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012

Total Non-Agricultural Employment, Q1-2000 to Q3-2012

NBER Recession United States Massachusetts

Through Q3-2012

Index 2000=1

Sources: U.S. Bureau of Labor Statistics, Current Employment Statistics.

7

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Employment changes in Pioneer Valley mirrored statewide trends over most of the past decade, but trailed in the recovery.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 2.2%
  • 4.0%

2.2%

  • 8.0%
  • 6.0%
  • 4.0%
  • 2.0%

0.0% 2.0% 4.0% 6.0%

Total Growth Rates in Employment

Q1 2001-Q1 2008 Q4 2007-Q4 2009 Q4 2009-Q4 2011

Sources: Massachusetts Executive Office of Labor and Workforce Development (EOLWD), ES-202 and U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW).

8

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The region’s share of employment in Education & Health Services is larger than in any other regional labor market.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

33.2% 27.2% 24.3% 19.2% 18.3% 20.7% 7.6% 15.2% 13.6% 9.6% 9.8% 10.5% 9.5% 7.9% 9.1% 4.7% 6.5% 5.9% 4.7% 4.3% 3.5% 6.1% 4.1% 5.8% 3.9% 3.9% 4.5% 1.5% 2.8% 2.2%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Pioneer Valley Massachusetts United States

Employment Distribution by Supersector, Q4 2011

Information Construction Other services Government Financial Activities Manufacturing Leisure & Hospitality Professional & Business Services Trade, Transportation & Utilities Education & Health Services

Sources: Massachusetts EOLWD, ES-202 and U.S. Bureau of Labor Statistics, QCEW.

9

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Between recessions, the state and region had similar employment trends across most industries.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 30.0%
  • 20.0%
  • 10.0%

0.0% 10.0% 20.0% 30.0% 40.0%

Other Services Health Care & Social Assistance Arts, Entertainment & Recreation Educational Services Professional & Technical Services Accommodation & Food Services Construction Financial Activities Utilities Government Transportation & Warehousing Wholesale Trade Retail Trade Administrative & Support Services Information Management of Companies & Enterprises Manufacturing

Employment Changes, Q1-2001 to Q1-2008

Massachusetts Pioneer Valley

Sources: Massachusetts EOLWD, ES-202.

10

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Similarly, in the Great Recession, the region and state had comparable employment changes across most industries.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 25.0%
  • 20.0%
  • 15.0%
  • 10.0%
  • 5.0%

0.0% 5.0% 10.0%

Utilities Other Services Arts, Entertainment & Recreation Health Care & Social Assistance Government Accommodation & Food Services Educational Services Financial Activities Retail Trade Professional & Technical Services Management of Companies & Enterprises Wholesale Trade Transportation & Warehousing Information Administrative & Support Services Manufacturing Construction

Employment Changes, Q4-2007 to Q4-2009

Massachusetts Pioneer Valley

Sources: Massachusetts EOLWD, ES-202.

11

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Strong employment gains in a few industries were mitigated by losses and slow growth among others in Pioneer Valley.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 10.0%
  • 5.0%

0.0% 5.0% 10.0% 15.0% 20.0%

Administrative & Support Services Construction Arts, Entertainment, & Recreation Other Services Professional & Technical Services Wholesale Trade Retail Trade Utilities Educational Services Accommodation & Food Services Health Care & Social Assistance Government Management of Companies & Enterprises Transportation & Warehousing Manufacturing Financial Activities Information

Employment Changes, Q4-2009 to Q4-2011

Massachusetts Pioneer Valley

Sources: Massachusetts EOLWD, ES-202.

12

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Labor Supply

  • Residential Population Changes and

Characteristics

  • Age and Education of the Civilian Labor Force
  • Trends and Characteristics of the Unemployed
  • Commuting Patterns

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 13

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Pioneer Valley’s total residential population was essentially unchanged over the course of the last decade.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 0.1%

0.1%

  • 1.5%
  • 1.0%
  • 0.5%

0.0% 0.5% 1.0% 1.5%

Total Residential Population Growth

Annual Growth Rate 2000 to 2005-2007 Annual Growth Rate 2005-2007 to 2008-2010

Source: U.S. Census Bureau 2000 Decennial Census Public Use Microdata Samples (PUMS) data files, 2005-2007 and 2008-2010 American Community Survey (ACS) Public Use Micro Sample (PUMS) data files.

14

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While the total population was stagnant, the region saw growing numbers of immigrants and minorities in the past decade.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

Demographic Characteristics of Pioneer Valley

15

2000 2008-2010 Absolute Change Annual Growth Rate Resident Population 680,610 679,768

  • 842

0.0% Gender Male 326,958 325,509

  • 1,449

0.0% Female 353,652 354,259 607 0.0% Nativity Native Born 600,950 586,125

  • 14,825
  • 0.3%

Immigrant 79,660 93,643 13,983 1.8% Race/Ethnicity White, non-Hispanic 547,634 515,440

  • 32,194
  • 0.7%

Black, non-Hispanic 35,871 37,056 1,185 0.4% Asian, non-Hispanic 10,919 15,118 4,199 3.7% Hispanic 74,134 100,538 26,404 3.4% Other race, non-Hispanic 12,052 11,616

  • 436
  • 0.4%
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The labor force in Pioneer Valley increased in age over the past decade and is older than the state’s labor force.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

14.9% 13.7% 12.9% 13.2% 15.2% 14.2% 20.0% 18.2% 23.3% 20.2% 22.7% 21.5% 26.8% 21.0% 27.0% 22.0% 26.8% 22.3% 23.9% 24.7% 22.4% 23.9% 21.8% 23.3% 10.8% 17.6% 10.8% 15.8% 10.2% 14.7% 3.6% 4.8% 3.6% 4.7% 3.3% 4.0%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2000 Pioneer Valley 2008-2010 2000 Massachusetts 2008-2010 2000 United States 2008-2010

Age Distribution of the Civilian Labor Force

Age 65+ Age 55-64 Age 45-54 Age 35-44 Age 25-34 Age 16-24

16

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Pioneer Valley was the only region to see a decline in the number of 16-24 year olds in the labor force in the past decade.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 0.5%
  • 0.6%
  • 2.2%

0.8% 6.1% 3.6% 1.3%

  • 0.6%
  • 1.3%

1.7% 5.4% 3.9%

  • 3.0%
  • 2.0%
  • 1.0%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% Age 16-24 Age 25-34 Age 35-44 Age 45-54 Age 55-64 Age 65+

Annual Growth in the Civilian Labor Force by Age, 2000 to 2008-2010

Massachusetts Pioneer Valley

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

17

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The region’s labor force has the highest concentration of individuals with a High School Degree or less in the state.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

12.5% 10.1% 11.5% 8.7% 15.5% 11.8% 28.5% 28.0% 24.3% 23.5% 26.9% 26.3% 21.4% 21.0% 19.1% 18.7% 23.9% 24.0% 9.6% 10.3% 7.9% 7.9% 7.2% 8.3% 16.6% 18.4% 22.3% 24.4% 17.2% 19.1% 11.5% 12.1% 14.8% 16.8% 9.4% 10.5%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2000 Pioneer Valley 2008-2010 2000 Massachusetts 2008-2010 2000 United States 2008-2010

Educational Attainment of the Civilian Labor Force

Master's degree or more Bachelor's degree Associate's degree Some College, no degree High School Less than High School

18

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Educational attainment has increased considerably in the past decade, but Pioneer Valley has trailed Massachusetts.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 1.9%

0.3% 0.3% 1.3% 1.7% 1.1%

  • 2.2%

0.6% 0.7% 1.0% 2.0% 2.4%

  • 3.0%
  • 2.0%
  • 1.0%

0.0% 1.0% 2.0% 3.0% Less than High School High School Some College, no degree Associate's Degree Bachelor's Degree Master's Degree or more Massachusetts Pioneer Valley

Annual Growth in the Civilian Labor Force by Education, 2000 to 2008-2010

19

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

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The combination of lower levels of educational attainment and an aging population present challenges for Pioneer Valley.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

5,000 10,000 15,000 20,000 25,000 30,000 Less than High School High School Some College Associate's Degree Bachelor's Degree Master's Degree or more

Educational Attainment of the Civilian Labor Force in Pioneer Valley

Age 55-64 Age 45-54 Age 35-44 Age 25-34

20

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In the Great Recession the unemployment rate reached 9.0 percent in Pioneer Valley, third highest among all regions.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Unemployment Rates, 2000 to 2011

United States Massachusetts Pioneer Valley

Source: U.S. Bureau of Labor Statistics, Current Population Survey and Massachusetts EOLWD, Labor Force and Unemployment Rates.

21

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The unemployed in Pioneer Valley are disproportionately younger and have lower levels of educational attainment.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

13.7% 31.1% 18.2% 19.8% 21.0% 17.6% 24.7% 19.4% 17.6% 9.2% 4.8% 2.9%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Civilian Labor Force Unemployed

Age Distribution

Age 65+ Age 55-64 Age 45-54 Age 35-44 Age 25-34 Age 16-24

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

10.1% 24.4% 28.0% 35.5% 21.0% 20.5% 10.3% 5.1% 18.4% 10.6% 12.1% 3.9%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Civilian Labor Force Unemployed

Education Distribution

Master's degree or more Bachelor's degree Associate's degree Some College, no degree High School Less than High School

22

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One in five 16-24 year olds in Pioneer Valley is unemployed, and is more likely to be unemployed than any other age group.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

20.3% 9.7% 7.5% 7.0% 4.7% 5.4% 16.2% 7.7% 6.7% 6.8% 6.4% 7.1%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

Age 16-24 Age 25-34 Age 35-44 Age 45-54 Age 55-64 Age 65+ Massachusetts Pioneer Valley

Unemployment Rates by Education, 2008-2010

23

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

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Those with less than a high school education are seven times more likely to be unemployed than those with a Master’s Degree or higher.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

21.6% 11.3% 8.7% 4.5% 5.1% 2.9% 17.9% 10.9% 9.1% 6.0% 5.3% 3.4%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

Less than High School High School Some College, no degree Associate's degree Bachelor's degree Master's degree or more Massachusetts Pioneer Valley

Unemployment Rates by Education, 2008-2010

24

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

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Compared to other labor markets, Pioneer Valley has strong commuting ties to Connecticut but weak ties with other regions.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

25

Number Percent of Total

Total number of employed persons living in Pioneer Valley… 324,026 100.0%

…that work in:

Pioneer Valley 277,172 85.5%

Central Mass 8,718 2.7% Berkshire 5,431 1.7% Other parts of Massachusetts 4,714 1.5% Connecticut 23,550 7.3% Vermont 1,337 0.4% New York 1,032 0.3% Other places outside Massachusetts 2,072 0.6%

Total number of persons working in Pioneer Valley… 302,831 100.0%

…that live in:

Pioneer Valley 277,172 91.5%

Central Mass 5,902 1.9% Berkshire 2,762 0.9% Other parts of Massachusetts 2,309 0.8% Connecticut 10,797 3.6% New York 1,039 0.3% Vermont 832 0.3% Other places outside Massachusetts 2,018 0.7%

Net in-commuting

  • 21,195
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Labor Demand

  • Educational Attainment of Employed
  • Educational Attainment and Composition of

Industries and Occupations

  • Demand for Workers with Post-Secondary

Education Pre-Recession

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 26

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The educational attainment of those employed in Pioneer Valley is closer to the nationwide workforce than statewide.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

11.7% 8.6% 10.6% 7.6% 14.4% 10.7% 28.4% 27.5% 24.0% 22.7% 26.7% 25.7% 21.5% 21.0% 19.2% 18.6% 24.1% 24.0% 9.3% 10.7% 8.1% 8.2% 7.3% 8.5% 17.0% 19.3% 22.9% 25.4% 17.7% 19.9% 12.1% 13.0% 15.1% 17.5% 9.7% 11.2%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2000 Pioneer Valley 2008-2010 2000 Massachusetts 2008-2010 2000 United States 2008-2010

Educational Attainment of Individuals Employed in the Region

Master's degree or more Bachelor's degree Associate's degree Some College, no degree High School Less than High School

27

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A growing number of employees have an Associate's Degree or higher, while a shrinking number have lower levels of education.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

  • 3.3%
  • 0.3%
  • 0.2%

1.6% 1.5% 0.9%

  • 3.3%
  • 0.3%

0.0% 0.5% 1.5% 2.0%

  • 4.0%
  • 3.0%
  • 2.0%
  • 1.0%

0.0% 1.0% 2.0% 3.0%

Less than High School High School Some College, no degree Associate's degree Bachelor's degree Master's degree or more Massachusetts Pioneer Valley

Annual Growth in the Employed by Education, 2000 to 2008-2010

28

Source: U.S. Census Bureau 2000 Decennial Census PUMS data files and 2008-2010 ACS PUMS data files.

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Industries in Pioneer Valley have smaller shares of employees with a Bachelor’s Degree or Higher, but larger shares with “middle-skills”.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

27.2% 15.8% 47.5% 51.6% 38.2% 19.8% 35.2% 27.9% 34.6% 64.4% 17.3% 20.5% 0% 20% 40% 60% 80% 100%

Health Care & Social Assistance Educational Services Retail Trade Manufacturing Educational Attainment of Employees by Selected Major Industries in Pioneer Valley

23.0% 11.7% 42.1% 37.3% 33.2% 15.5% 33.1% 23.8% 43.8% 72.7% 24.8% 38.8% 0% 20% 40% 60% 80% 100%

Health Care & Social Assistance Educational Services Retail Trade Manufacturing High School Degree or Less Some College or Associate's Degree Bachelor's Degree or Higher Educational Attainment of Employees by Selected Major Industries in Massachusetts

29

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The pattern persists across occupations, especially for Healthcare Practitioners & Technical occupations.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Source: U.S. Census Bureau 2008-2010 ACS PUMS data files.

6.3% 6.4% 38.6% 64.2% 39.6% 16.2% 36.5% 28.1% 54.1% 77.4% 24.9% 7.7% 0% 20% 40% 60% 80% 100%

Healthcare Practitioners & Technical Education, Training, & Library Services Sales Production Educational Attainment of Employees by Selected Occupations in Pioneer Valley

6.4% 5.8% 31.5% 65.6% 29.9% 13.2% 31.0% 23.2% 63.8% 81.0% 37.5% 11.1% 0% 20% 40% 60% 80% 100%

Healthcare Practitioners & Technical Education, Training, & Library Services Sales Production High School Degree or Less Some College or Associate's Degree Bachelor's Degree or Higher Educational Attainment of Employees by Selected Occupation in Massachusetts

30

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Prior to the recession, there were higher vacancy rates in the more highly educated occupations than the less educated ones.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 31

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% Occupational Vacancy Rate Share of Employees with a Post-Secondary Education by Major Occupation Pioneer Valley Massachusetts Linear (Pioneer Valley) Linear (Massachusetts)

Job Vacancies and Educational Attainment by Occupation, Pre-Recession Production Sales Education, Training, & Library Healthcare Practitioners

Source: Massachusetts EOLWD, Job Vacancy Survey and U.S. Census Bureau 2005-2007 ACS PUMS data files.

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The Pipeline: Educational Supply of Post-Secondary Degrees

  • Enrollment Patterns
  • Degree Completions

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 32

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Enrollments at institutions in Pioneer Valley have trailed statewide trends, and most national trends, in the past decade.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 33

7.6% 2.0% 0.9% 1.6%

  • 3.9%
  • 8.0%
  • 4.0%

0.0% 4.0% 8.0% 12.0% Pioneer Valley Massachusetts United States Pioneer Valley Massachusetts United States

Annual Growth in Enrollments, 2000 to 2010

Less-than-Two-Year Institutions Two-Year Institutions Four-Year Institutions

Part-Time Enrollment

21.0%

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

Full-Time Enrollment

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Over the last decade completions of programs and degrees in Pioneer Valley have trailed state and national trends.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 34

4.0% 1.1% 1.9%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% Pioneer Valley Massachusetts United States

Annual Growth in Completions, 2000 to 2010

Certificates Associate's Degrees Bachelor's Degrees

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

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SLIDE 35

Completions from public institutions in Pioneer Valley have

  • utpaced private ones in the region.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 35

5.1% 3.4% 1.2%

  • 1.0%

2.0% 1.8%

  • 2.0%

0.0% 2.0% 4.0% 6.0% 8.0% Pioneer Valley Massachusetts United States Pioneer Valley Massachusetts United States

Annual Growth in Completions, 2000 to 2010

Certificates Associate's Degrees Bachelor's Degrees

Private

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

Public

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SLIDE 36

Public institutions in Pioneer Valley play a larger role in all forms

  • f post-secondary education than statewide.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

36.6% 95.6% 56.5% 0.0% 25.0% 50.0% 75.0% 100.0% Pioneer Valley Massachusetts United States

Share of Completions at Public Institutions, 2000

36

40.6% 96.4% 57.0% 0.0% 25.0% 50.0% 75.0% 100.0% Pioneer Valley Massachusetts United States

Share of Completions at Public Institutions, 2010

Certificates Associate's Degrees Bachelor's Degrees

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

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SLIDE 37

Health Sciences and Services have accounted for most of the Certificates completed in Pioneer Valley.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 37

200 400 600 800 1,000 1,200 1,400 1,600 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Business Engineering & Computer Sciences Arts, Humanities, & Social Sciences Services Health Sciences

Annual Certificate Completions by Major in Pioneer Valley, 2000 to 2010

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

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SLIDE 38

Nearly 40 percent of Associate’s Degrees completed in Pioneer Valley are in Arts, Humanities, & Social Sciences.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 38

400 800 1,200 1,600 2,000 2,400 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Engineering & Computer Sciences Services Business Health Sciences Arts, Humanities, & Social Sciences

Annual Associate’s Degree Completions by Major in Pioneer Valley, 2000 to 2010

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

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SLIDE 39

Similar to Associate’s Degrees, more than 40 percent of the region’s Bachelor’s Degrees are in Art, Humanities, & Social Sciences.

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 39

2,000 4,000 6,000 8,000 10,000 12,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Health Sciences Services Science & Mathematics Business Arts, Humanities, & Social Sciences

Annual Bachelor’s Degree Completions by Major in Pioneer Valley, 2000 to 2010

Source: National Center for Education Statistics, Integrated Post-Secondary Educational Data System.

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SLIDE 40

Summary

  • An aging workforce, declines in younger workers, and a

stagnant population will force the region to confront demographic challenges sooner than other regions.

  • Despite gains in the educational attainment of its labor force

in the past decade, Pioneer Valley still has the highest share of individuals with only a High School Degree or less.

  • Addressing the barriers to full employment facing the region’s

unemployed, particularly among the young and less educated, is key to the recovery of the region.

  • Given such trends, what should be done to ensure the future

economic vitality of Pioneer Valley moving forward?

November 14, 2012 Labor Market Trends in the Pioneer Valley Region 40

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SLIDE 41

Thank You

November 14, 2012 Labor Market Trends in the Pioneer Valley Region

Robert.Clifford@bos.frb.org www.bostonfed.org/neppc