Our Global Failure in the New American Economy

edu_logo_homeLes Francis & Bo Cutter of Real Clear Education have written a new piece about how we need to rethink education based on the way that jobs and the economy are likely to work in coming decades.

Here is an excerpt from it:

The organization of work that was the centerpiece of our industrial economy for 100 years is disappearing. Like it or not, “jobs” in the traditional, 40-hour, 5-day-week sense will no longer be the way we define a “healthy economy.”    

Looking ahead, three phenomena are likely to become more central to our lives: part-time assignments, portfolio careers, and pervasive entrepreneurialism.

In the “gig economy”– more “work” will consist of short term assignments and careers composed of a bundle of such assignments over a lifetime.

Many people will carry out more than one of these short-term assignments at any given time, and while not everyone will want to manage a “portfolio” of assignments, many will see it as the way to make the most of their talents.

Increased entrepreneurialism and personal responsibility will become more important as work becomes less rote, more unpredictable, and fast changing.

Given the growing challenge, just how well is our nation meeting it? The answer is: not very well. There are some bright spots, to be sure: high school graduation rates are up, reaching a record high of 81 percent. In 2013, just under two-thirds of students who graduated from high school went on to enroll in college. But there is more to the story, and it is not nearly as good.

About one-third of the 1.8 million high school students who took the ACT exam in 2013 were not ready for first-year college courses in core English, reading, math or science courses, according to U.S. News and World Report. Just 26 percent reached the college readiness benchmarks across all four subjects. Further, America’s young adults are coming up short on the skills needed to compete in the global, technology-rich economy, a report this week from Educational Testing Service reveals.

How can it be true that we are graduating more young people from high school and college, and yet they don’t come out possessing adequate skills?

Here’s what the ETS research tells us:

Even America’s best performing and most educated millennials — those who are native born and with the greatest economic advantage in relative terms — do not perform better their international peers

Young Americans possessing a four-year bachelor’s degree scored higher in numeracy than their counterparts in only two countries: Poland and Spain. And those whose highest level of education was high school or less scored lower than their counterparts in almost every other country. Shockingly, our best-educated millennials — those with a master’s or research degree — only scored higher than their peers in three countries.

It is clear that we are failing to prepare our citizens for the demands of the New American Economy. As a consequence, redefining true educational attainment — the acquisition of knowledge and skills and the nurturing of key dispositions (rather than merely conveying paper credentials) — must be at the top of our national priorities.

For more information, please visit:http://www.realcleareducation.com/articles/2015/02/19/america_global_failure_drastic_millennial_education_change_new_economy_1159.html

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