JPMorgan Chase has announced a new $350 million, five-year global initiative intended to meet the growing demand for skilled workers. The New Skills at Work investment will support community college and other non-traditional career pathway programs. It focuses on creating economic mobility and career pathways for underserved populations, as well as helping to forecast emerging skillsets for JPMorgan Chase employees.

The final wave of state career and technical education (CTE) plans have been approved under the new Perkins V Act, with innovation and workforce taking a front seat in the plans. Perkins V encourages states and territories to expand opportunities for every student to access educational opportunities that will put them on the path to success.

A rulemaking committee, convened by the U.S. Department of Education, has begun work to rethink higher education and is considering ways to refine and streamline the accreditor recognition process and role, while also reviewing regulatory areas affecting innovation in higher education.

If Americans are going to build better careers and share prosperity as technological changes occur, the U.S. will have to implement more comprehensive policies, according to an MIT task force’s preliminary report titled The Work of the Future: Shaping Technology and Institutions.

With the general election less than one month away, SSTI has reviewed the 120 state ballot initiatives throughout the country for innovation-related issues. Education, gig workers, redistricting and issues surrounding elections and state budgets are scattered across the country and can affect the future of innovation through funding, talent and political will. Read below for coverage on the initiatives that could have an impact on different segments of the economy and the future of innovation.

In early April the Department of Labor announced a $42.5 million grant opportunity for the Youth Apprenticeship Readiness Grant Program. The program is to support the development of new or expanding registered apprenticeship programs (RAPs) for youth, including quality pre-apprenticeship programs that lead to a RAP.

For states and metropolitan areas across the country, cultivating a skilled and educated workforce is a critical part of economic development. In 2017, metropolitan areas anchored by major research universities – regions like Boulder, Ann Arbor, and Corvallis – had the highest share of adults 25+ with at least a bachelor’s degree, according to an SSTI analysis of recent census data.

From 2000 to 2017, the share of the U.S. population with a bachelor’s degree (or higher) increased from 24 percent to 31 percent. Meanwhile, the share of the population with a high school education (or less) decreased from 48 percent to 40 percent. All states experienced these directional changes in educational attainment. State performance relative to other states was relatively static, particularly for those performing best and worst in 2000, with few changes in the rankings of states by share of the population with a bachelor’s degree.

Educating the next generation of workers, ensuring they will have the skills necessary for the jobs of the future and paying attention to the actions that will affect the climate are all on the agendas of the latest round of governors giving their state of the state and budget addresses. A focus on skills can be seen in addresses from governors in California, Maine, Michigan, Oklahoma and Pennsylvania. States are also continuing with initiatives to forward attention on climate change, as reflected in Maine’s climate agenda and Michigan joining other states in the Climate Alliance.

Envisioning a future where all Americans will have lifelong access to high-quality STEM education, and where the U.S. will be the global leader in STEM literacy, innovation and employment, the federal government released a five-year strategic plan for STEM education.

Completing a subbaccalaureate program can translate into higher pay and greater employment outcomes compared to those who have no education beyond a high school diploma, but the median salary of those who completed a certificate versus those who did not was the same ($20,000) among students who were no longer enrolled after three years. The results are detailed in a recent brief from the National Center for Education Statistics at the U.S. Department of Education.

Non-college workers who long found refuge and economic mobility in thriving cities have seen those opportunities diminish and in turn have moved out of the areas. Although cities remain vibrant for workers with advanced degrees, “the urban skills and earnings escalator for non-college workers has lost its ability to lift workers up the income ladder,” finds David Autor in his recent research brief.

A $7.17 billion Emergency Connectivity Fund (ECF) was established by the 2021 American Rescue Plan Act to help ease the educational impact on students of school closures in response to the Covid-19 pandemic. While much instruction transitioned to an online environment, many students were inadequately equipped to properly participate.

President Joe Biden this morning delayed his planned departure for Europe to announce a framework for the Build Back Better Act, a $1.75 trillion plan that the president said he was confident could pass both houses of Congress.

A recent Economic Commentary from the Federal Reserve Bank of Cleveland reviews the early research surrounding the effects of the pandemic on education and examines three specific areas of concern: the spread of the virus through in-person school settings; the impact of K-12 school closures on labor force participation; and, the effects of virtual schooling on

As state budgets move into the legislatures for final negotiations and approvals, the last of the governors have addressed their constituents and put forth their proposals. While a renewed sense of hope is seeping into the latest addresses, governors are still cautious and guarded in proposing new programs. Broadband, small business, education and workforce initiatives continue to be among the innovation-related initiatives announced by the state leaders, with the intent that those efforts will also boost the economic recovery of the states.

The United States boasts the world’s largest economy and is home to many of the most prestigious, highly ranked universities across the globe, leading to a highly educated population. Overall, advanced education pays off in terms of personal earnings and national innovation. Factors like field of study, skills, and job demand can greatly affect earning potential.

The American Council on Education (ACE) and the Carnegie Foundation for the Advancement of Teaching are seeking input into a social and economic mobility classification. The feedback form, available here, will be open until July 31, 2024.

Each year, more than 703,000 federally aided students enroll in one of the 1,800 career training programs, according to a Department of Education fact sheet. Unfortunately, the typical graduate of these programs leaves with unaffordable debt or earns less than a high school graduate in their state. Sometimes, these programs shut down with little warning, leaving students in the lurch.

While there has been increasing public questioning of the value of a college degree, statistics on net worth by educational attainment paint a clear picture. In 2022, the median net worth of those without a high school diploma was approximately $38,000, while those with a college education sat at around $464,000. When looking at averages instead, the difference becomes even more pronounced, with non-high school graduates averaging a net worth of approximately $176,000 compared to college graduates’ $1.92 million.

Jobs held by degree holders in Science and Engineering (S&E) fields make important contributions to our nation’s economic growth and global competitiveness, fueling innovative capacity through research, development, and other technologically advanced work activities, according to the National Science Foundation (NSF).

College earnings premiums appear to be declining for the first time in decades and the value proposition of college is beginning to fade in the eyes of many, according to the Harvard Workforce Almanac. As education costs continue to skyrocket and student debt mounts, Americans are reconsidering whether college is truly worth the expense. One means of addressing the issue is to provide data to better inform decision-making.

A recent study published in the Journal of Higher Education reveals that a college graduate’s mix of funding sources may reflect when they were born and how likely they were to obtain a graduate degree.

What is the value of a college degree today? While tuition costs continue to rise, opinions on the perceived value of the degrees institutions of higher education provide are falling.

The U.S. Census Bureau’s Narrative Profiles is an online resource that presents American Community Survey (ACS) 5-year estimates as easily digestible analytic reports.