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Emsi Burning Glass…
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– College enrollments have hit hard times.
Student enrollment numbers are down.
Worker turnover is high,
and fewer employers are requiring degrees.
So, how can institutions adapt?
All right, let me see the screen here.
So, in keeping with my
love for Bloody Marys,
today we’re doing the Bud Light Chelada
which is like a beer Bloody Mary.
So, let’s get this bad boy open.
(aluminum can cracks)
I’m Brian Bailey.
In this “Beer with Emsi Burning Glass”
we’ll take a look at what’s
going on with higher education.
College enrollment has been
declining for a decade or so,
but like so many other
elements of the talent market
the pandemic accelerated this trend.
Since early 2020, college
enrollment in the United States
has fallen by more than
1 million students.
Just in 2021 alone, enrollment
fell by over 3% nationally.
Two-year colleges are bearing the brunt,
with enrollment declining
by over 13% since 2019.
Some of the decline can be chalked up
to changes in new programs
and how they’re
classified, but still, 13%.
And with a historically tight job market,
a lot of employers are only
requiring specific skills
instead of a full college degree.
Our data has shown that
between 2017 and 2019,
degree requirements were revised downward
in 46% of middle-skill occupations
and 37% in high-skill occupations.
This has many education institutions
rethinking their offerings
to attract more students,
and that’s one of the biggest changes
taking place in higher education today.
But how can colleges shift
to a skill-based focus?
Look at the numbers,
specifically the job numbers.
For example, our job market data
is able to guide colleges
in what programs,
skills, and classes are
worthwhile to students
and communities in their area.
This helps local colleges ensure
their students have relevant skills
and labor market value
to their specific geographic region.
So, a Chelada is a Clamato
mixed with a Bud Light.
– Tomato and wine?
Our labor market data has
identified local skills
that are in demand for remote positions.
Did you know that 40%
of the Silicon Valley area job postings
are now for remote work
outside of California?
If you’re a university in Iowa,
you’ll wanna know if your region
is becoming a remote work hotspot
for tech, or for finance,
or for any number
of other growing remote work sectors.
It’s also important to understand
the demographic shifts.
With a tight labor market,
people of all ages are
trading up positions
or reentering the job market.
Students looking for relevant skills
are not just the traditional 18-year-olds
fresh outta high school,
and flexible hours and
for non-traditional learners
is a vital path forward for education.
Good data is the key to
understanding these shifts,
and once you have the right students
enrolled in the right programs,
data can also help quantify
the institution’s economic impact,
and solid return on
investment for the community
and for the student.
At Emsi Burning Glass, that’s what we do.
That’s what we do. (laughs)
– [Man] That’s what we do.
That’s what we do!
– That’s what we do! (laughs)
Our skillabi tool, for example,
shows how the skills a college teaches
align with the skills employers want,
while our alumni outcomes can
show where alumni have gone
and the success they’ve
achieved since graduating.
Our economic impact studies
can go into greater detail
about the value of an institution
and what it brings to their community.
Visit the link here to
learn more about all those
and our other education resources.
You know, the past few years
have thrown education for a loop,
but a data-driven approach
can turn the challenges into opportunity.
Thanks for joining me
for this “Beer with Emsi Burning Glass”.