Arizona will be offering fewer bachelor degrees by the end of the decade than needed to fill a vacancy, according to a new report released in The Future of the Workforce, a debate sponsored by the MAP dashboard of the University of Arizona Eller College of Management on Thursday. , April 21st.
“Arizona is in the process of changing its economic orientation in comparison to the low college graduation rate and the increasing demand for bachelor’s degree staff,” the report Advancing Arizona’s Economy: Investment in Workforce Development noted.
Ron Shoopman of the Arizona Board of Directors warned that due to such a low graduation rate, Arizona will not have enough people to fill the vacancies created by development in the private and public sector of Arizona.
Arizona Economic Growth Report: Investment in Employee Development estimates that Arizona will provide 26,300 degrees undergraduate annual economies by 2030.
“Last year, Arizona companies commissioned, recruited and relocated 19,000 four-year-olds to fill jobs that would not be filled by people in Arizona who were not ready but did not have the qualifications to fill,” Shoopman said. .
Shoopman, however, does not blame the people of Arizona. He said it goes back to what the Regents Board achieved in 2019: Arizona has a 79% high school graduation rate. One in five students in Arizona does not receive a high school diploma.
“We know … that if you don’t have a high school diploma, you probably don’t have a job,” Shoopman said. “Less than half of the people in the state who do not have a high school diploma are unemployed.”
Shoopman said the report made it clear that Arizona needed to do better with their students and prepare people for the workforce. However, Shoopman said Arizona does not need to introduce students to four-year universities. He said government officials also needed to focus on certification programs, community colleges and business schools.
Jennifer Pullen, senior research economist at Eller College Economic and Business Research Center, revealed that additional jobs available in Arizona have increased dramatically since the early months of the epidemic. In January, Arizona had 241,000 open jobs in Arizona, which reached 80,000 jobs over February 2020, according to Pullen. Although Tucson has been slow to recover these jobs compared to Phoenix, the unemployment rate across the state for March was 2.9%, down from 23 years.
“There are two main reasons why the unemployment rate goes down: Either those unemployed people get jobs or those who are unemployed leave the job market,” Pullen said.
Pullen estimated that many people chose to retire during the disaster or left the labor market to support themselves or their families. Rising house prices also increased homeowners’ equity, which could allow them to stay out of the job market for longer. Migration should also be considered as part of the equation, although international migration declined during the catastrophe. Pullen noted that inflation could put workers back in the workforce.
Pima Community College College Chancellor Lee Lambert said the job market is changing to adapt to new styles.
“We are moving from a first-class society, an industrial age, to a second-generation era, which is a digital age based on knowledge and the essence of it is this idea of knowledge,” Lambert said.
The main message from every announcer and presenter is the urgent need to prepare Arizona workers to fill the jobs that the government has created.
Mister Car Wash CEO John Lai said during his panel that investment in early education is the obvious answer to the coming increase in job opportunities.
“There is a revenue issue,” Lai said. “We have to pay more teachers, or invest in our school systems, preK, K to 12, and we do not.
According to a report by the Board of Regents, Arizona currently resides where jobs are increasing rapidly for people to fill vacancies. Shoopman said it was important for the government to prepare the next generation of Arizona students and staff by investing in the education system to retain students in the system.