Selected Findings from the Survey of Young Workers Heidi Kaplan - - PowerPoint PPT Presentation
Selected Findings from the Survey of Young Workers Heidi Kaplan Sr. Community Development Analyst Board of Governors of the Federal Reserve System The analysis and conclusions set forth in this presentation represent the presenter, and do not
Heidi Kaplan
Board of Governors of the Federal Reserve System
The analysis and conclusions set forth in this presentation represent the presenter, and do not indicate concurrence of the Federal Reserve Board, the Federal Reserve Banks, or their staff.
2
Board of Governors of the Federal Reserve System
SURVEY BACKGROUND
SYW Description Public Data 2013 Initial data collection
18- to 30-year-olds Data & analysis available on Board’s website 2015 2nd data collection
18- to 30-year-olds Data & analysis available on Board’s website 2016 Sociolog (online focus groups)
respondents NO Bachelor’s
respondents W/ Bachelor’s NA 2017 SYW folded into Survey
Decisionm aking (SHED) TBD Data & analysis a available on Board’s w ebsite
3
Board of Governors of the Federal Reserve System
Survey Background
Labor Force Statistics (Current Population Survey) Unem ploym ent Rate Labor Force Participation Rate Age
Decem ber 20 15 January 20 18 Decem ber 20 15 January 20 18
18 -19 years 15.2% 14.5% 58 .2% 46.2% 20 - 24 years 9.4% 8 .2% 74.4% 70 .6% 25 -34 years 5.3% 4.7% 8 2.9% 8 1.7% 35 -44 years 4.0 % 3.5% 8 3.8 % 8 2.8 % 45 - 54 years 3.6% 3.3% 8 1.4% 8 0 .5%
4
Board of Governors of the Federal Reserve System
4
Im prove Alignm ent between Education and the Labor Market
Im prove Opportunities for Non-degree Education
Provide Assistance and Protections for Workers with Alternative Work Arrangem ents
Seek Opportunities to Im prove Job Growth
SECTION SECTION SECTION SECTION
5
Board of Governors of the Federal Reserve System
6
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
63% 66% 66% 69% During high school During college (if applicable)
Received inform ation about jobs and careers
20 13 20 15
7
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
13% 15% 23% 37% 43% 45% 57% 71% 7% 11% 56% 49% 41% 76% A business where I worked Em ploym ent services agency Career fair Parent(s) Friends and fam ily
Online research High school teacher/ college professor
Where did you obtain inform ation about jobs & careers? (20 15)
During high school During college (if applicable)
8
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
66% 53% 51% 49% 41% 40 % Received inform ation from parents Received inform ation from friends
Where did you obtain inform ation about jobs and careers? (by race and ethnicity) (20 15)
White Black Hispanic
9
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
No Bachelor’s Earned Bachelor’s Perseverance / MANY applications MANY Resumes/ Applications One application / Quick process Lack of Responses / Frustrating
10
Board of Governors of the Federal Reserve System
35% 59% 68 % 47% 69% 8 4% High school diplom a
Bachelor’s degree Professional or doctorate degree
Optim istic about Future Job Opportunities
20 13 20 15
11
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
29 % 35% 30 % 54% 38 % 59% 76 % 90 %
Less than high school High school diplom a or equivalent GED Som e college, no degree or certification Certificate
degree Associate degree Bachelor’s degree Master’s degree Professional
degree
Believe to have the education and training needed for the type of job that you would like to hold in the next 5 years (20 15) How m uch each reason describes why you are not enrolled
Very Much describes why not enrolled Somewhat describes why not enrolled Total I don’t know which program will improve my job opportunities 16% 29% 45%
12
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
No Bachelor’s Earned Bachelor’s Nice colleagues Friendly colleagues I feel good about my job I enjoy the work Dull / Not busy enough / Not Challening Overworked Employer does not respect me / value me “ I am starting to feel as though I am not learning (or have the
the rate that I w ould like to.”
“I feel w eighed d ow n a nd una ble to m ov e into successful, p rosp erous w ork.”
13
Board of Governors of the Federal Reserve System
14
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
67% 30 % 62% 36% Steady Em ploym ent Higher Pay
Is it m ore im portant to have a job that pays m ore or a job that is m ore likely to provide steady em ploym ent?
20 13 20 15
If you had steady work for the next five years, would you prefer to have one job or m ultiple jobs? (20 15)
One job 8 0 % Multiple jobs (One job at a tim e) 12% Multiple jobs (Ok with >1 job at a tim e) 7% Num ber of responses 1,290
15
Board of Governors of the Federal Reserve System
Provide Assistance and Protections for Workers with Alternative Work Arrangements
Labor m arket outcom es for perm anent and tem porary em ployees(20 15)
Job is perm anent Job is tem porary “Career” or “stepping stone to a career” 70 % 37% Satisfied with benefits 57% 29% Receive paid tim e off for sick leave and/ or holidays 71% 24% Em ployer pays all or part of healthcare prem ium 54% 14% Training opportunities through an em ployer(s) 48 % 26%
16
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
No Bachelor’s Earned Bachelor’s
leveraged (tie)
17
Board of Governors of the Federal Reserve System
Improve Alignment Between Education and the Labor Market
No Bachelor’s Earned Bachelor’s Continue education (consider CC) Focus on networking Follow your passion Find a mentor Save money / budget Be flexible / Don’t be afraid of change Find something you are passionate about
“If y ou a re choosing to go to college, d o y our best. If y ou d on't go to college, get a
y ea rs.”
18
Board of Governors of the Federal Reserve System
19
Board of Governors of the Federal Reserve System
Seek Opportunities for Job Growth
21% 10 % 34% 28 % 45% 61% All Respondents (20 13) n = 2,0 97 All Respondents (20 15) n= 2,0 35
Would you say your expectations about future job
Optim istic Not sure Pessim istic